Morgans says these ASX 200 shares are buys

If you are in the market for some new additions to your portfolio, then it could pay to listen to what analysts at Morgans are saying.

This morning, the broker named three ASX shares as buys. Here’s what it is recommending to clients:

Eagers Automotive Ltd (ASX: APE)

Morgans remains positive on this auto retailer despite the release of a mixed trading update this week.

In response, the broker has retained its buy rating with a reduced price target of $27.25. It said:

APE delivered a mixed AGM update. Key OEM supply constraints tempered 1H26 expectations, with ANZ 1H26 PBT guided flat/slightly ahead yoy (7-11% below cons), while record order intake (>29% ahead of deliveries YTD) and ANZ/CAD acquisition contributions support a robust 2H outlook. We expect guidance may prove conservative, with the group yet to work through the peak May/June trading period (~50% of 1H profit) and supply conditions remaining constrained across key OEMs.

Despite some near-term earnings uncertainty, we continue to view a meaningful structural opportunity across consolidation (AUS/CAD), strategic alliances (Mitsubishi Corporation), used vehicles (EA123) and ongoing NEV leadership. We see recent share price pressure (~18x FY27F PE) as an attractive entry point given the earnings trajectory ahead (CY27F EPS growth ~19%).

Nufarm Ltd (ASX: NUF)

Another ASX share that Morgans is positive on is agricultural chemicals company Nufarm.

It was pleased with its half-year results and highlights that the company is on track to deliver strong earnings growth in FY 2026.

As a result, the broker has reiterated its buy rating with a $4.15 price target. It said:

NUF’s 1H26 result was at the higher end of guidance with the company reporting strong earnings growth. Seed Technologies reported a particularly strong result. NUF is on track to deliver strong underlying EBITDA growth in FY26. Pleasingly, the company upgraded its Seed Technology guidance. NUF is our key pick of the ag and chemical sector. The company is materially undervalued and we reiterate our BUY rating with a new price target of A$4.15.

Web Travel Group Ltd (ASX: WEB)

This travel technology company delivered an FY 2026 result ahead of expectations this week.

And while FY 2027 will be impacted by the Middle East conflict, Morgans remains positive.

So much so, it has upgraded this ASX share to a buy rating with a $3.75 price target. It explains:

Given the Middle East conflict affected trading in March, WEB’s FY26 result came in at the lower end of guidance, albeit better than consensus, proving its resilience. Unsurprisingly, WEB’s FY27 update showed that trading has slowed materially given the conflict. Adverse FX has been another headwind. Given the uncertainty, WEB did not provide any formal FY27 earnings guidance. We have made significant downgrades to our forecasts. We assume that the conflict and a subdued consumer environment impacts WEB’s 1H27 (seasonally stronger half), followed by a recovery in the 2H27.

After material share price weakness, we upgrade WEB to a BUY rating. The company is worth materially more than the current share price. We know from past economic and geopolitical events, that after a downturn, travel demand rebounds and so will its earnings and share price.

The post Morgans says these ASX 200 shares are buys appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Web Travel Group 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 Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.