Should you buy Coles, Light & Wonder, and TPG Telecom shares in April?

If you are in the market for some new additions to your portfolio, then it could be worth hearing what Morgans is saying about the ASX 200 shares in this article.

Is it bullish, bearish, or something in between? Let’s find out:

Coles Group Ltd (ASX: COL)

The team at Morgans believes that this supermarket giant could be worth considering following recent share price weakness.

Although its half-year result was a touch softer than it was expecting, the broker has put an accumulate rating and $22.90 price target on Coles’ shares. It said:

While COL’s 1H26 result was slightly softer than expected, execution remains strong in the core Supermarkets division. […] Despite the slight downgrade to earnings, our target price remains unchanged at $22.90 due to a roll-forward of our valuation to FY27 forecasts. With a 12-month forecast TSR of 15%, we upgrade our rating to ACCUMULATE (from HOLD).

In our view, COL continues to perform well with key Supermarkets metrics such as customer scores, sales growth, cost discipline and store execution remaining solid. We hence view the recent share price pullback as an attractive entry point.

Light & Wonder Inc. (ASX: LNW)

Another ASX 200 share that Morgans has been looking at is gaming technology company Light & Wonder.

The broker has been pleased with the company’s performance and believes it is well-placed to build on this. Morgans recently put a buy rating and $195.00 price target on its shares.

It named four reasons why it thinks investors should snap up Light & Wonder’s shares. They are:

In our view, LNW trades on an undemanding valuation given: (1) supportive NA EGM demand; (2) litigation overhang behind it; (3) a balance sheet set to de-lever through 2026 (MorgansF: ~2.9x); and (4) Grover providing a high-return, recurring revenue vertical growing ahead of expectations. We upgrade to BUY, however lower our price target to A$195 (previously A$200).

TPG Telecom Ltd (ASX: TPG)

Finally, the broker notes that this telco delivered a full-year result in line with expectations.

It was particularly pleased with TPG Telecom’s subscriber growth after a period of underperformance. It has put an accumulate rating and $4.40 price target on its shares. It said:

TPG’s FY25 result was in line with guidance and consensus expectations, as was its underlying EBITDA and capex guidance for FY26. The highlight was continued strong mobile subscriber growth. For many years TPG/Vodafone has struggled to grow mobile market share. However, over the course of 1HCY25 and 2HCY25 it has ignited growth and outpaced peers in terms of mobile subscriber growth.

Its network quality and brands are resonating with consumers and medium-term mobile growth could soon become a trend. We make non-material underlying forecast changes. Our target price lifts to $4.40 from $4.20 and we retain our Accumulate recommendation.

The post Should you buy Coles, Light & Wonder, and TPG Telecom shares in April? appeared first on The Motley Fool Australia.

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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 Light & Wonder Inc. The Motley Fool Australia has recommended Light & Wonder Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.