S&P/ASX 200 Index (ASX: XJO) shares are up 0.5% to 8,937.4 points on Friday.
Brokers have reduced their ratings on numerous ASX 200 shares this week.
Let's take a look.
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Fortescue Ltd (ASX: FMG)
The Fortescue share price is $14.51, down 0.6% today.
Over the past month, this ASX 200 mining share has tumbled 12%.
Bell Potter downgraded Fortescue shares to a sell rating this week.
The broker cut its 12-month price target from $15.80 to $13.15.
This implies a potential 9% downside ahead.
NextDC Ltd (ASX: NXT)
The NextDC share price is $5.83, down 5.6% today.
Over the past month, this ASX 200 tech share has plummeted 46%.
Morgan Stanley downgraded NextDC shares to a hold rating this week.
The broker slashed its 12-month price target from $19 to $6.70.
This suggests a potential 15% upside ahead.
Elders Ltd (ASX: ELD)
The Elders share price is $6.38, up 2.7% today.
Over the past month, this ASX 200 consumer staples share has fallen 2%.
Citi has downgraded Elders shares to a hold call.
The broker has a 12-month price target of $6.60.
This indicates a potential 3% upside ahead.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is $12.25, down 6% today.
Over the past month, this ASX 200 rare earths share has fallen 11%.
Ord Minnett downgraded Lynas shares to a hold rating today.
The broker cut its 12-month price target from $14 to $13.50.
This suggests a potential 10% upside ahead.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is $40.15, up 1.7% today.
Over the past month, this ASX 200 consumer staples share has lifted 2.4%.
Morgans downgraded Woolworths shares from accumulate to hold on Wednesday.
The broker has a price target of $43.55.
This suggests potential capital growth of 9% over the next year.
Morgans analyst Alexander Lu said:
WOW delivered a solid 1Q27 sales trading update.
In our view, while trading conditions remain challenging in NZ Food and BIG W, the core Australian Food business (~88% of group EBIT) continues to perform well, supported by improved execution and sustained sales growth ahead of the market.
While we expect this momentum to continue, WOW is now trading on 28x FY27F PE with a yield of 2.7%.
As a result, we see limited upside from current levels, with the valuation largely reflecting the growth outlook.
Newmont Corporation CDI (ASX: NEM)
The Newmont share price is $157.94, down 0.8% today.
Over the past month, this ASX 200 gold share has fallen 6%.
Morgans downgraded Newmont shares from buy to accumulate.
The broker's price target is $177.
This indicates a potential gain of 12% over the next year.
