If you’re interested in adding some S&P/ASX 200 Index (ASX: XJO) shares to your portfolio, then the three listed below could be top options.
These ASX 200 shares have been named as buys with meaningful upside potential. Here’s what you need to know about them:
Seek Limited (ASX: SEK)
The first ASX 200 share that could be a buy is this leading job listings company. Seek appears well-positioned for growth thanks to its leadership position in the ANZ market, strong pricing power, and exposure to the region’s recovery from the COVID-19 pandemic.
Morgan Stanley is a fan of Seek. Its analysts currently have an overweight rating and $36.00 price target on its shares. It expects Seek to benefit from the tight labour market and higher than normal rates of job churn.
TechnologyOne Ltd (ASX: TNE)
Another ASX 200 share to look at is enterprise software provider TechnologyOne. It is currently transitioning to become a software-as-a-service (SaaS) focused business. Pleasingly, management has a lot of confidence in the transition and is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026.
The team at Goldman Sachs is very positive on Technology One. So much so, this week the broker initiated coverage on the company’s shares with a buy rating and $14.00 price target. Goldman believes the risks are to the upside for TechnologyOne’s ARR target.
Westpac Banking Corp (ASX: WBC)
A final ASX 200 share that could be in the buy zone is Westpac. Australia’s oldest bank has seen its shares underperform peers materially over the last six months. This is unwarranted according to analysts at Morgans, which see “considerable value” in the bank’s shares. Especially given its “expectation of significant cost out by FY24F.”
Morgans has an add rating and $29.50 price target on the bank’s shares.
The post Analysts name 3 ASX 200 shares to buy now appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Westpac share price lifts despite $12 million ASIC fine
- Goldman Sachs has just slapped buy ratings on these ASX tech shares
- Leading brokers name 3 ASX shares to buy today
- 2 ASX 200 dividend giants named as buys by brokers
- Does Westpac have a dividend reinvestment plan?
Motley Fool contributor James Mickleboro owns NEXTDC Limited and SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. 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/kdeVixt
Stock Pick 