Top broker names 2 of the best ASX share ideas for November

A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer

If you’re looking for a few new additions to your portfolio in November, then look no further.

Analysts at Morgans have picked out a number of ASX shares that they class as their best ideas for the month.

Below are two top ASX shares that the broker rates highly this month. They are as follows:

BHP Group Ltd (ASX: BHP)

Morgans is a fan of this mining giant for a number of reasons. This includes its valuation, strong balance sheet, and dividend profile. It also sees BHP as a low risk option in the resources sector for investors.

It explained: “We view BHP as relatively low risk given its superior diversification relative to its major global mining peers. The spread of BHP’s operations also supplies some defence against direct COVID-19 impact on earnings contributors. While there are more leveraged plays sensitive to a global recovery scenario, we see BHP as holding an attractive combination of upside sensitivity, balance sheet strength and resilient dividend profile.”

Morgans currently has an add rating and $46.05 price target on BHP’s shares. This compares to the current BHP share price of $35.65.

ResMed Inc (ASX: RMD)

Another ASX share for investors to consider is ResMed. Morgans is a fan of this sleep treatment focused medical device company due partly to its positive long term outlook.

Morgans commented: “While we believe the next few quarters will likely be volatile, as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

Its analysts have an add rating and $40.80 price target on the company’s shares. This compares to the latest ResMed share price of $35.22.

The post Top broker names 2 of the best ASX share ideas for November appeared first on The Motley Fool Australia.

Should you invest $1,000 in BHP right now?

Before you consider BHP, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3bAzbhb

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s