Morgans names more of the best ASX 200 shares to buy in March

The team at Morgans has been busy picking out its best ASX 200 share ideas for March.

The first two ASX 200 shares we looked at can be found here. Read on for two more picks:

QBE Insurance Group Ltd (ASX: QBE)

Morgans thinks that QBE could be good value at current levels. Particularly given that its earnings profile looks set for major improvements thanks to rate increases and cost reductions. The broker said:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.

Morgans has an add rating and $17.96 price target on QBE’s shares.

ResMed Inc (ASX: RMD)

Weight loss wonder drug concerns are overblown according to analysts at Morgans.

As a result, the broker believes that ResMed would be a top ASX 200 share to buy right now. Especially given its very bright long-term outlook which is being underpinned by its connected-care digital platform. It explains:

While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. Although quarters are likely to remain volatile, nothing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.

Morgans has an add rating and $32.82 price target on ResMed’s shares.

The post Morgans names more of the best ASX 200 shares to buy in March appeared first on The Motley Fool Australia.

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More reading

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• 2 classic ASX 200 shares you can buy for cheap now to hold for years
• It’s not too late to buy these 2 rocketing ASX 200 stocks

Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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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