S&P/ASX 200 Index (ASX: XJO) shares are up 0.3% to 8,880.7 points on Tuesday.
Let's take a look at some new ratings on three ASX 200 shares.
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Liontown Ltd (ASX: LTR)
The Liontown share price is 61 cents, up 0.8% today and down 48% over 12 months.
Bell Potter analyst Stuart Howe says Liontown shares are the broker's preferred lithium exposure.
Howe has a buy rating on this ASX 200 lithium share given the company's plans to expand its Kathleen Valley operations.
Howe said:
We expect a value re-rate as the Kathleen Valley ramp-up and expansion are progressively derisked over the forecast period.
The company is in a strong net cash position to support the incremental and low capital intensity Kathleen Valley expansion.
The analyst noted that lithium prices have fallen in recent times.
As we've reported, this is due to changing short-term supply/demand dynamics.
Despite recent lithium price weakness, we remain positive on a medium to longer term outlook with market supply likely to
disappoint against strong demand themes.
Ramsay Health Care Ltd (ASX: RHC)
The Ramsay Health Care share price is $55.10, down 1.2% today and up 74% over 12 months.
Ramsay Health Care is one of Australia's largest private hospital networks.
The Ramsay Health Care share price has been in a gradual process of recovery over the past 12 months.
When the whole healthcare sector pivoted in June after a prolonged slump, Ramsay shares powered up further.
Remo Greco from Sanlam Private Wealth has a hold rating on this ASX 200 healthcare share for now.
Greco said (courtesy The Bull):
The recent full year 2026 results were better than expected.
The proposed de-merger of Ramsay Sante in Europe will enable the management team to focus even more on its Australian operations.
Management expects further revenue growth and margin improvement in full year 2027.
ANZ Group Holdings Ltd (ASX: ANZ)
The ANZ share price is $40.06, down 1.2% today and up 8% over 12 months.
It's reporting season for three of the four major ASX 200 bank shares.
Westpac Banking Corp (ASX: WBC) went first yesterday, announcing a 1% fall in statutory net profit to $6.8 billion for FY26.
Both ANZ and National Australia Bank Ltd (ASX: NAB) will report their FY26 results on 9 November.
Investors are watching for any signs of weaker residential lending growth in light of the housing market downturn.
Elio D'Amato from EnviroInvest has a sell rating on ANZ shares because the bank is considering financing a gas pipeline.
The proposed gas pipeline in Beetaloo belongs to APA Group (ASX: APA).
D'Amato said:
While no project funding commitment has been verified at this time, potential support for infrastructure enabling further fracking exposes the bank to climate and reputational risks, in our view.
The environmental concern includes emissions from gas production and combustion.
For investors seeking stronger restrictions on fossil fuel expansion, other banks appeal more. We will re-examine our position when the bank reaches a final decision.
