Analysts name 2 excellent ASX 200 shares to buy now

If you’re wanting to strengthen your portfolio with some ASX 200 shares, you may want to look at the two listed below.

Both have recently been named as buys by leading brokers. Here’s why they could be buys:

ResMed Inc. (ASX: RMD)

The first ASX 200 share for investors to look at buying this month is ResMed.

It is a leading medical device company with a focus on sleep treatment solutions, which is a great market to be in. With education around sleep disorders improving every year, ResMed’s total addressable market continues to increase.

This certainly bodes well for demand for ResMed’s world class hardware and software solutions in the coming years. Particularly given how management estimates that only 20% of sufferers have been diagnosed.

Morgans is a fan of ResMed and currently has an add rating and $37.00 price target on its shares. This compares to the latest ResMed share price of $32.57.

TechnologyOne Ltd (ASX: TNE)

Another ASX 200 share that analysts are tipping as a buy is enterprise software provider Technology One.

It has won a lot of admirers in recent times thanks to its ongoing transition to a software-as-a-service (SaaS) focused business. This transition has been very successful so far and management appear confident this positive trend will continue in the coming years.

So much so, the company is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026. This also bodes well for Technology One’s profit growth, given that it is higher margin revenue.

The team at Bell Potter is very positive on Technology One. It currently has an add rating and $14.25 price target on its shares. This compares favourably to the current Technology One share price of $12.05.

The post Analysts name 2 excellent ASX 200 shares to buy now appeared first on The Motley Fool Australia.

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More reading

• 4 ASX 200 shares trading ex-dividend next week
• Leading brokers name 3 ASX shares to buy today
• Analysts name 2 ASX 200 shares to buy and hold
• Why Brainchip, Calix, Fortescue, and ResMed shares are sinking
• Why is the ResMed share price sinking 6% on Friday?

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 positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended TechnologyOne Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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