If you're looking for a few new additions to your portfolio in November, then look no further.
Analysts at Morgans have picked out a number of ASX shares that they class as their best ideas for the month.
Below are two top ASX shares that the broker rates highly this month. They are as follows:
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BHP Group Ltd (ASX: BHP)
Morgans is a fan of this mining giant for a number of reasons. This includes its valuation, strong balance sheet, and dividend profile. It also sees BHP as a low risk option in the resources sector for investors.
It explained: "We view BHP as relatively low risk given its superior diversification relative to its major global mining peers. The spread of BHP's operations also supplies some defence against direct COVID-19 impact on earnings contributors. While there are more leveraged plays sensitive to a global recovery scenario, we see BHP as holding an attractive combination of upside sensitivity, balance sheet strength and resilient dividend profile."
Morgans currently has an add rating and $46.05 price target on BHP's shares. This compares to the current BHP share price of $35.65.
ResMed Inc (ASX: RMD)
Another ASX share for investors to consider is ResMed. Morgans is a fan of this sleep treatment focused medical device company due partly to its positive long term outlook.
Morgans commented: "While we believe the next few quarters will likely be volatile, as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain."
Its analysts have an add rating and $40.80 price target on the company's shares. This compares to the latest ResMed share price of $35.22.
