If you're looking to supercharge your portfolio's returns in FY 2024, then it could be worth checking out the ASX 200 shares listed below.
That's because they have been named as buys by brokers and are tipped to rise 30% or more over the next 12 months.
To put that into context, if you were to invest $10,000 into these ASX 200 shares, your investment would turn into $13,000 in a year if analysts are on the money with their recommendations.
Here are three ASX 200 shares with the potential to rise 30%:
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IDP Education Ltd (ASX: IEL)
The team at Goldman Sachs thinks that this language testing and student placement company's shares could rise materially after a recent pullback. Its analysts have a buy rating and a $28.90 price target on its shares. This implies a potential upside of 33% from current levels.
Goldman highlights that "IEL represents attractive value at ~1.7x PEG on FY23-26E EPS CAGR."
Qantas Airways Limited (ASX: QAN)
Over at Morgans, its analysts see significant value in this ASX 200 airline operator's shares. So much so, the broker has Qantas on its best ideas list again this month. Morgans currently has an add rating and $8.50 price target on its shares. This suggests a potential upside of 36% for investors over the next 12 months.
It notes that "QAN is trading at a material discount compared to pre-COVID multiples, despite having structurally higher earnings, a much stronger balance sheet, a better domestic market position, a higher returning International business and more diversification (stronger Loyalty/Freight earnings)."
Treasury Wine Estates Ltd (ASX: TWE)
Goldman Sachs is also very bullish on this beaten-down wine giant and has a buy rating and a $14.20 price target on its shares. Based on the current Treasury Wine share price, this implies a potential upside of 30% for investors.
Goldman highlights that the "current sell down represents a good opportunity to further accumulate a stock that has a long-term moat and global scalable upside."
