The S&P/ASX 200 Index (ASX: XJO) is down around 0.5% at the time of writing on Tuesday. The index has pulled back from a spike late last week due to a drop in financial and energy stocks.
But here are six ASX 200 shares that could turn the index around over the next 12 months. And they're all rated a strong buy by brokers, with upsides of up to 227% ahead.
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Goodman Group (ASX: GMG)
Goodman shares are up around 0.5% to $32.22 at the time of writing on Tuesday. The company owns strategic industrial land in major cities and has been shifting more of its development pipeline toward data centre projects. Despite concerns about property valuations and global growth, Goodman recently confirmed its FY26 guidance. It is targeting at least 9% earnings per security (EPS) growth. The combination has helped drive market interest. TradingView data shows the majority of brokers have a strong buy rating on the ASX 200 shares. They tip a 24% upside to a maximum $40 target price over the next 12 months.
Aristocrat Leisure Ltd (ASX: ALL)
Aristocrat shares are down around 1.7% at the time of writing on Tuesday, at $52.19 a piece. The company has gained a dominant share of the gaming industry and posted a positive first-half result last month. It posted a 6.4% increase in normalised revenue in constant currency, a 14% increase in normalised EBITA in constant currency, and increased its on-market share buyback program by $1 billion. Brokers are incredibly bullish that its share price can keep going higher over the next 12 months. The majority have a strong buy rating on the ASX 200 shares and tip a potential 33% upside to a maximum target price of $69.40 at the time of writing.
Yancoal Australia Ltd (ASX: YAL)
Yancoal shares are flat at the time of writing and trading for $6.07 a piece. The ASX 200 coal stock has outperformed this year, driven by higher-than-expected production figures and demand for metallurgical coal, which is used in steel production. Brokers think the coal miner's shares can fly even higher in the next 12 months. Again, the majority have a strong buy rating, and they forecast a maximum price target of $14.16, which implies a potential 133% upside ahead.
Evolution Mining Ltd (ASX: EVN)
Evolution shares are up around 1.5% in Tuesday's trade, to $13.10 a piece. The ASX 200 gold miner's shares have enjoyed a rebound in the price of gold recently, as expectations that a US-Iran peace agreement would reopen the Strait of Hormuz eased fears of an energy-driven inflation shock. Evolution recently highlighted solid growth in both gold and copper reserves, along with encouraging exploration results. Brokers tip a maximum target price of $19.55 over the next 12 months. This implies a potential 48% upside at the time of writing.
Qantas Airways Ltd (ASX: QAN)
Qantas shares are slightly higher in Tuesday's trade, up around 0.2% to $9.96 a piece. The ASX 200 airline's shares were smashed lower earlier this year but have staged an impressive comeback over the past month, on the back of stronger-than-expected travel demand and a weakening oil price, thanks to news of a potential US-Iran peace deal. Brokers tip a maximum $12.80 target price. This implies a potential upside of up to 29% at the time of writing.
Xero Ltd (ASX: XRO)
Xero shares are down around 1.5% at the time of writing to $72.35 each. It's been a difficult year for the ASX 200 tech stock after a sector-wide sell-off saw its share price plunge. But the company benefits from an incredibly sticky subscription base and high customer retention rates. This means its revenue is relatively predictable. As a relatively small market player, it also has a lot of growth potential. Most analysts have a strong buy rating on the shares. They tip an upside of up to 227% to a maximum target price of $237.40.
