The S&P/ASX 200 Index (ASX: XJO) has rebounded nearly 2% during the first couple of trading days of the month. And brokers are tipping which ASX 200 shares could keep on climbing.
Here are three of them, and they're all forecast to rise by 28% to 38% over the next 12 months.
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Lynas Rare Earths Ltd (ASX: LYC)
Lynas Rare Earths shares are up nearly 5% in Tuesday afternoon trade. At the time of writing, the shares are changing hands at $14.68 a piece. The latest uptick is good news for investors, following a 37% tumble from a 15-year high in mid-April to a low of $13.81 last week. It's not all bad news, though. The shares are still up around 20% year to date and 31% higher than 12 months ago.
It looks like a lot of the share price declines were down to investors taking their gains off the table after a strong rally earlier this year.
The rare earths miner's fourth-quarter update in late July hasn't helped sentiment either. For the three months to 30 June, Lynas recorded gross sales revenue of $288.9 million, up 69.7% year on year. That marks the miner's highest quarterly revenue since Q4 FY 2022. Sales receipts of $297.1 million were up 94.6%.
On paper, the results were strong, but it looks like they came in below expectations, and the sell-off continued.
Brokers are optimistic, though. Market Index data show they expect Lynas' shares to jump again this year. The majority of brokers have a buy rating on the ASX 200 miner's shares, and the $19.85 average target price implies a potential 35% upside, at the time of writing.
Vault Minerals Ltd (ASX: VAU)
Vault Minerals shares are also climbing higher today. At the time of writing, the shares are up around 2% to $4.96 a piece. The ASX 200 gold company's shares started off strong in early 2026, but crashed nearly 40% in March and have struggled to recover. They're now down around 10% year to date, but an impressive 93% higher than this time last year.
They declined amid a broad-based sell-off of ASX gold stocks following the escalation of conflict between the US and Iran, resulting in global economic uncertainty. It also looks like investors were using the opportunity to take gains off the table after a strong price rally in late 2025.
Vault Minerals posted its June quarter results late last week. The company closed FY26 on a strong note, achieving production guidance despite all-in sustaining cost (AISC) finishing marginally above the guided range.
Brokers are very optimistic about the outlook for the gold miner. Market Index data show the majority have a buy rating on the ASX 200 gold shares. They tip a potential 38% upside to an average target price of $6.83, at the time of writing.
Megaport Ltd (ASX: MP1)
Megaport shares have jumped nearly 7% on Tuesday, to $19.14 at the time of writing. The shares have now rebounded 18% from a dip of $16.23 on Thursday last week. Megaport shares have had an incredible rally so far this year.
After dipping to a three-year low of just $6.48 in early April, the software-defined network (SDN) service provider's shares have rebounded a huge 195%. The shares are now up around 61% year to date and 34% higher than 12 months ago.
The company is rapidly expanding into the AI infrastructure space through its acquisition of Latitude.sh and several AI-focused contracts. Over the past couple of months, Megaport has announced several major AI infrastructure contracts worth hundreds of millions of dollars.
Brokers are also bullish that the rally can continue for these ASX 200 tech shares. Market Index data shows that all brokers have a buy rating on the stock. The $24.51 target price implies a potential 28% upside ahead, at the time of writing.
