Morgans names the best ASX 200 shares to buy in November
source : www.fool.com.au
Image source: Getty Images
Once a month, the Morgans team picks the best ASX share ideas.
These are the ASX shares that the broker believes will offer the highest risk-adjusted returns over a twelve-month period. They are also supported by higher than average levels of trust.
Top ideas for the month of November include the two ASX 200 shares listed below. This is what the broker says about it:
Morgans continues to rate this biotherapeutic giant as one of its best ideas. Especially after recent weakness has left CSL shares trading at a huge discount to historical levels. The agent seems to believe that this could now be one of the best buying opportunities in a long time. It said:
While shares have struggled recently, we continue to view CSL as a key portfolio holding and sector pick, offering a double-digit recovery in earnings growth as plasma collections increase, new products are approved and flu vaccine uptake increases due to the ongoing concerns about respiratory viruses, with shares trading at 25x, a significant discount (20%) to the long-term average.
Morgans has an add rating and a $328.20 price target on the company’s stock.
Another beaten ASX 200 share that the broker has on its top ideas list is ResMed. The company believes its sleep treatment business is well positioned for long-term growth despite the rise of weight loss drugs such as Ozempic. In light of this, it views the recent weakness as a buying opportunity. Morgans said:
While weight loss medications have captured headlines and investor attention, we see these products having little impact in the large, underserved sleep disorder breathing market and do not view them as category killers. While the quarters are likely to remain volatile, nothing changes our view that the company remains well positioned and uniquely positioned in building a patient-centric, connected-care digital platform that addresses key pain points in the healthcare value chain.
The broker has an add rating and a $32.74 price target on ResMed stock.
source : www.fool.com.au
