Why these 3 ASX 200 shares just scored significant broker upgrades

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Three S&P/ASX 200 Index (ASX:XJO) The outlook for shares has just been improved by top brokers.

One is a project developer.

One of these leads the technological leadership in the logistics field.

And the third is focused on mortgage insurance.

And if the brokers have this right, all three ASX 200 shares could deliver healthy returns over the next year.

(Broker details courtesy of The Australian.)

Three ASX 200 shares with improved prospects

The first ASX 200 share to get a significant broker upgrade is WiseTech Global Ltd (ASX: WTC).

Shares in the logistics software provider are up 0.3% to $92.75 at the time of writing. This will ensure that the WiseTech share price will rise by 21% in 2024. The stock also trades at a measly, completely fair dividend yield of 0.2%.

CLSA predicts much more outperformance to come. The broker upgraded WiseTech shares to a buy rating with a $112.00 price target. That is almost 21% above the current level.

The WiseTech share price could see some tailwinds next week when the stock is included in the exclusive S&P/ASX 50 Index. This move is part of the quarterly rebalancing of the S&P Dow Jones Indices in June.

Which brings us to the second ASX 200 share to earn a broker upgrade, property investor, developer and manager Dexus (ASX:DXS).

The Dexus share price is down 0.9%% to $6.48 per share at the time of writing. That means the share price will fall by 15% in 2024. Dexus shares trade at a partially franked rolling dividend yield of 7.7%.

Jarden Securities believes shares are trading at a bargain. The broker upgraded Dexus to a neutral rating with a price target of $7.60. That is more than 17% above the current level.

Rounding out the list of ASX 200 shares earning broker upgrades is Lenders Mortgage Insurance Company Helia Group Ltd (ASX: HLI).

The Helia share price shot up 12.6% in morning trading today. The shares are currently changing hands at $3.76 each. This means that the Helia share price will fall by 15% in 2024. The stock trades at a partially franked rolling dividend yield of 7.9%.

If you looked at the charts yesterday, you may have noticed that the Helia share price ended the day with a steep decline of 20.9%, at $3.34 per share. The stock crashed after the company announced this Commonwealth Bank of Australia (ASX: CBA) plans to review the lender’s mortgage insurance contract (LMI) with Helia.

Macquarie believes that today’s recovery must continue. The broker upgraded the ASX 200 share to an outperform rating with a price target of $3.90.