Are you looking for big returns for your investment portfolio? If you are, it could be worth checking out the three ASX 200 shares that Morgans recently rated as buys.

Here's what the broker is saying about these shares:

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans is feeling very bullish about this travel agent following its results release last month. The broker believes that "margin improvement will underpin strong growth" and looks forward to its guidance being released at its annual general meeting (AGM) later this year. It said:

FLT's FY24 result was in line with its recent update. The highlights were the increase in its revenue margin to 11.4% vs 10.4% in FY23, the 2H24 NPBT margin of 1.7% and strong operating cashflow up 170% on the pcp. FLT said that its outlook is positive however in line with usual practice, FY25 guidance won't be provided until the AGM in November. We maintain our ADD rating.

Morgans has an add rating and $25.35 price target on the ASX 200 share. This implies potential upside of 22% for investors over the next 12 months.

Nextdc Ltd (ASX: NXT)

Another ASX 200 share that Morgans is tipping to rise strongly is data centre operator NextDC. The broker believes that the company is "laying the foundations for platform growth" and that investors should look beyond its softer guidance for FY 2025. It said:

NXT's FY24 result was slightly stronger than expected while FY25 guidance was slightly lower than expected due to a slower ramp-up in revenue and faster ramp-up in scale-up costs, positioning the business for significant expansion. We maintain our ADD rating.

The broker has an add rating and $20.50 price target on its shares. This implies potential upside of 20% for investors from current levels.

Woodside Energy Group Ltd (ASX: WDS)

A third ASX 200 share that Morgans thinks could generate big returns is energy giant Woodside.

It believes there is "a lot to be optimistic about" following its half year results. It said:

A strong 1H24 earnings and dividend result comfortably beating Visible Alpha consensus estimates. WDS maintained an 80% dividend payout ratio, for a solid 1H24 interim dividend of US69 cents. Strong inbound interest from potential partners on Driftwood LNG has given WDS confidence it can assemble a strong partnership on the project. We maintain our ADD rating.

Morgans has an add rating and $33.00 price target on its shares, which suggests that upside of 37% is possible over the next 12 months.