S&P/ASX 200 Index (ASX: XJO) shares are in the green, up 0.15% at 8,138.4 points on Thursday.  

The market has been volatile since the announcement of US reciprocal tariffs in early April caused temporary chaos.

A dramatic plunge in the first week of April quickly turned around. However, the market remains nervous today.

It's interesting to note that the benchmark index is now trading above its level before the US tariffs were announced.

However, one broker thinks the ASX 200 could dive again in May as negotiations between the US and its trading partners continue.

Meanwhile, brokers have identified some ASX 200 shares that they think are set to rise despite anticipated further market volatility.

Here are five ASX 200 shares just upgraded to a 'strong buy' consensus rating among analysts on CommSec.

5 ASX 200 shares elevated to 'strong buy' consensus status

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

The Soul Patts share price is $37.20 per share, down 0.027% on Thursday.

The ASX 200 financial share has risen 8.96% in the year to date.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is $8.98, up 0.39% at the time of writing.

Goldman Sachs has a buy rating on Treasury Wine shares with a 12-month share price target of $12.90.

This implies a potential upside of 44% for investors who buy today.

The ASX 200 wine share has fallen 20.43% since the start of the year.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is $4.54, up 0.55% today.

Morgan Stanley has an overweight rating on Telstra with a share price target of $4.70.

The broker also tips Telstra to pay dividends of 19 cents per share in FY25 and 20 cents per share in FY26.

This equates to dividend yields of 4.18% and 4.4%, respectively, plus full franking credits.

The ASX 200 telecommunication share has risen 12.53% in the year to date.

GQG Partners Inc. (ASX: GQG)

The GQG Partners share price is $2.19, up 0.23% at the time of writing.

Goldman Sachs has a buy rating on GQG Partners shares with a price target of $3.

The ASX 200 financial share has lifted 6.55% in the year to date.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is $6.06, up 3.41% at the time of writing.

Paladin Energy released its latest quarterly update last week.

After reviewing the numbers, Citi retained its buy rating on the stock with a $10.20 price target.

This implies a potential upside of 68.31%.

Some analysts have an alternative view, with Paladin Energy being one of the most shorted ASX 200 shares right now.

As my colleague James reports, Paladin Energy shares have a short interest of 16.9%.

The ASX 200 uranium share has tumbled 23.19% in the year to date.