The S&P/ASX 200 Index (ASX: XJO) has climbed higher again on Thursday morning, up around another 0.5%. The increase is great news after the index suffered consecutive declines over the past month. And now many investors are focused on ASX 200 shares that can continue climbing higher from here.
Here are three ASX 200 shares that broker forecasts suggest could jump up to 40% over the next 12 months.
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Qantas Airways Ltd (ASX: QAN)
The ASX 200 airline shares were smashed lower earlier this year as conflict in the Middle East and rising fuel prices put airlines under pressure. There was a brief rebound around July, but recent renewal of geopolitical tensions has seen the share price tumble again over the past month.
Jet fuel (refined from crude oil) is the highest operating cost for airlines. That means that when oil prices increase amid tight supply and geopolitical tensions, jet fuel prices also jump. And this means that airlines, such as Qantas, face higher operating costs.
But despite the higher fuel costs, the company expects to see unit revenues grow by 8% to 10% in the first half of FY27.
And the experts appear to be bullish that the ASX 200 shares could be a turnaround story for FY27. Market Index data shows all brokers have a strong buy rating on Qantas shares. And the $11.31 average target price implies a potential 30% upside at the time of writing.
Paladin Energy Ltd (ASX: PDN)
Paladin Energy shares are rebounding on Thursday after a steep sell-off over the past week.
The decline is likely due to a number of factors. These include geopolitical uncertainty and a drop in confidence for ASX uranium shares.
Renewed conflict in the Middle East, higher inflation data, and concerns about more interest rate rises have seen some investors reduce their exposure to higher-risk shares.
But despite the latest investor loss of confidence and share price declines, it looks like the experts are still very bullish about the outlook for Paladin Energy shares over the next 12 months.
Market Index data shows the majority of brokers still have a buy rating on the ASX 200 shares. The $12.83 average target price implies an upside of around 35% at the time of writing.
CAR Group Ltd (ASX: CAR)
Shares in the ASX 200 technology company, which runs online global marketplaces for cars, motorcycles, boats, and commercial vehicles, have tumbled around 20% over the past month.
The company has been hit by broad market volatility and investors taking their gains off the table after a rally following its FY26 results last month.
CAR Group's FY26 results overall were positive. It reported FY26 revenue of $1.253 billion, up 6%, and NPAT of $314 million, up 14% on the prior year. Reported adjusted EBITDA was up 8% to $667 million.
And looking ahead to FY27, CAR Group said it expects revenue growth of 11% to 14% and adjusted EBITDA growth of 10% to 13% on a constant currency basis. The company also plans for high single-digit revenue growth in Australia and double-digit growth in North America, Latin America, and Asia.
The shares spiked around 10% on the day of the announcement, but have since tumbled back towards an annual low.
But broker forecasts suggest the sell-off was overdone and that the shares have the potential to rebound in the near future. Market Index data shows all brokers have a strong buy rating on the ASX 200 shares. And the $33.64 average target price implies an upside of around 40% at the time of writing.
