S&P/ASX 200 Index (ASX: XJO) shares are down 2.4% over 12 months.
Let's check out some new ratings from Bell Potter, Ord Minnett, and Morgans.
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Resmed CDI (ASX: RMD)
Resmed shares are down 17% over 12 months.
Ord Minnett has a buy recommendation on this ASX 200 healthcare share.
The broker has a 12-month share price target of $36.20.
This implies a potential 5% upside from here.
Ord Minnett said:
We expect the capital management program to support the shares and earnings. RMD has flagged more than US$1.85 billion will be returned to shareholders through share buybacks and dividends during FY27.
Its sleep business we expect will continue to grow ahead of market, and margins will return to expansion as productivity efficiencies and pricing take effect.
Further, RMD's forward price-earnings multiple (circa 18x consensus) is not demanding against our EPS growth estimate of 8% in FY27 (in US dollars).
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price has halved over 12 months.
Bell Potter retained its hold call on Champion Iron shares after the company's 2Q FY27 results.
The broker reduced its share price target on the ASX 200 iron ore share from $3.40 to $2.50.
This implies a potential 7% upside from here.
Bell Potter said:
CIA has released preliminary, unaudited and incomplete Q2 FY27 results which included: iron ore concentrate production of 3.9Mt (BP est. 3.8Mt, prior quarter 3.9Mt); sales of 4.5Mt (BP est. 3.9Mt, prior quarter 3.3Mt); net average realised prices of C$89.9/t (BP est. C$121/t, prior quarter C$107/t); and revenue of C$403.9m (BP est. C$422m, prior quarter C$357m).
CIA expect to ramp-up high-grade concentrate (DRPF grade) production.
While we expect iron content price premiums for this product, full value-in-use premiums are unlikely to be realised until longer-term offtake is secured.
Free cash flow should improve from FY27 as capex rolls off, supporting debt servicing and ongoing dividends.
The Federal Government forecasts a 21% drop in the iron ore price to US$72 per tonne by FY31. Find out why.
Bank of Queensland Ltd (ASX: BOQ)
The Bank of Queensland share price is down 4% over 12 months.
Morgans downgraded Bank of Queensland shares from a hold to trim rating.
The broker has a 12-month share price target of $6.22 on the ASX 200 bank share.
This implies a potential 9% downside from here.
Morgans said:
2H26 exceeded expectations and FY27 offers potentially double-digit earnings growth.
Beyond FY27, we see growth slowing to low single digits, with insufficient ROTE improvement to generate shareholder value.
Target price reduced c.3% to $6.22/sh on medium-term forecast changes.
At current prices, we estimate total potential TSR of -c.4% (including c.5.8% cash yield). We downgrade from HOLD to TRIM.
