ASX 200 shares are already up 5.6% in the new financial year.
This is significant given the lacklustre growth rate of 2.8% over FY26 (total return, including, dividends was 7%).
Among the 11 market sectors today, materials is in the lead, up 1.4%, while utilities is the laggard, down 0.7%.
Meanwhile, brokers have indicated continuing confidence in several ASX 200 shares this week.
Let's check out some renewed buy ratings.
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Life360 Inc (ASX: 360)
The Life360 share price is $29.18, down 1.2% today and down 26% over 12 months.
Bell Potter renewed its buy rating on the ASX 200 tech share on Tuesday.
The broker has a 12-month price target of $35.
This suggests a potential 20% upside ahead.
BHP Group Ltd (ASX: BHP)
The BHP share price is $62.92, up 0.6% today and up 58% over 12 months.
Morgan Stanley reaffirmed its buy rating on the market's largest ASX 200 mining share today.
The broker has a 12-month target of $67, which suggests a potential 6% upside ahead.
Capricorn Metals Ltd (ASX: CMM)
The Capricorn Metals share price is $14.70, up 3.6% today and up 50% over 12 months.
Bell Potter reiterated its buy rating on Monday after reviewing the miner's June quarter report.
The broker increased its 12-month target on the ASX 200 gold share from $16.70 to $17.80.
This suggests a potential 21% upside ahead.
Analyst David Coates said:
CMM is run by a management team that has an excellent track record of delivery.
CMM is a sector leading gold producer, unhedged and debt free. It is fully funded to grow production from ~120kozpa to +400kozpa from two gold mines in WA.
National Australia Bank Ltd (ASX: NAB)
The NAB share price is $42.78, up 0.6% today and up 10% over 12 months.
UBS reaffirmed its buy rating on the ASX 200 bank share with a 12-month price target of $50 this week.
This suggests a potential 17% upside ahead.
Droneshield Ltd (ASX: DRO)
The Droneshield share price is $2.30, up 5% today and down 44% over 12 months.
Canaccord Genuity renewed its buy rating on Droneshield shares with a $2.80 target this week.
This suggests a potential 22% upside ahead.
South32 Ltd (ASX: S32)
The South32 share price is $4.83, down 1% today and up 63% over 12 months.
Morgan Stanley renewed its buy rating on South32 shares this week.
The broker raised its 12-month price target from $4.75 to $4.80.
This suggests the ASX 200 mining share is already fully valued.
Qantas Airways Ltd (ASX: QAN)
The Qantas share price is $10.66, up 0.5% today and down 4% over 12 months.
Jefferies renewed its buy call on the ASX 200 airline share on Tuesday.
The broker has an $11.91 target, suggesting a 12% upside from here.
Breville Group Ltd (ASX: BRG)
The Breville share price is $35.02, up 2.3% today and up 6% over 12 months.
Citi reiterated its buy rating on the ASX 200 consumer discretionary share this week.
The broker has a price target of $39.85, implying a potential 14% upside ahead.
