If you’re looking for a few new additions to your portfolio in April, then look no further. Analysts at Morgans have picked out a number of ASX 200 shares that they class as their best ideas for the month ahead.
These are the shares they think offer the highest risk-adjusted returns over a 12-month timeframe and are supported by a higher-than-average level of confidence.
The first three we looked at can be found here. Whereas below are three more ASX 200 shares that the broker rates highly:
Santos Ltd (ASX: STO)
If you’re looking to gain exposure to booming energy prices, then Morgans believes Santos could be a good way to do it. Its analysts have an add rating and $9.00 price target on the company’s shares.
It explained: “We expect the resilience of STO’s growth profile and diversified earnings base see it best placed to outperform against a backdrop of a broader sector recovery. While pre-FEED, we see Dorado as likely to provide attractive growth for STO, while its recent acquisition increasing its stake in Darwin LNG has increased our confidence in Barossa’s development.”
Transurban Group (ASX: TCL)
Another ASX 200 share that Morgans likes is toll road operator Transurban. The broker expects the company’s dividends to rebound strongly as traffic volumes improve post-COVID. Morgans has an add rating and $14.29 price target on Transurban’s shares.
It commented: “TCL owns a pure play portfolio of toll road concession assets located in Melbourne, Sydney, Brisbane, and North America. This provides exposure to regional population and employment growth and urbanisation. […] Watch for rapid recovery in DPS alongside traffic recovery and WestConnex acquisition prospects.”
Wesfarmers Ltd (ASX: WES)
Morgans is very positive on this conglomerate. It currently has an add rating and $58.50 price target on the company’s shares. It rates Wesfarmers highly due to the strength of its retail portfolio and its talented management team.
The broker commented: “WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the recent pullback in the share price as a good entry point for longer term investors.”
The post Broker names 3 more of best ASX 200 shares to buy in April appeared first on The Motley Fool Australia.
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More reading
- Coles share price falls amid reports Wesfarmers is selling down its stake: Time to buy?
- ASX 200 commodities players were the major winners in March. Take a look
- Why now is the time to sell Santos shares: fund manager
- 5 things to watch on the ASX 200 on Wednesday
- Here are the 5 worst-performing ASX hydrogen shares of the March quarter
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 no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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