If you're interested in adding some S&P/ASX 200 Index (ASX: XJO) shares to your portfolio this month, then the three listed below could be worth considering.
These three ASX 200 shares have been named as buys and tipped to generate strong returns for investors. They are as follows:
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Aristocrat Leisure Limited (ASX: ALL)
The first ASX 200 share to look at is Aristocrat Leisure. It is a gaming technology company with a leading portfolio of poker machines and digital games. The latter includes gambling and non-gambling games such as RAID. The company has also just announced a deal to acquire London-listed leading global online gambling software and content supplier, Playtech, for $5 billion. All in all, this has analysts tipping Aristocrat to grow its earnings at a strong rate over the medium term
Morgans is positive on the company. It currently has an add rating and $52.50 price target on its shares. This compares to the most recent Aristocrat share price of $42.58.
NEXTDC Ltd (ASX: NXT)
Another ASX 200 share to look at is NEXTDC. It is a leading data centre operator with a collection of world class centres across key locations throughout Australia. Combined with its potential expansion into Asia and Edge data centres and the structural shift to the cloud, NEXTDC appears well-placed for growth over the 2020s.
Citi is a fan and currently has a buy rating and $15.40 price target on NEXTDC's shares. This compares to the latest NEXTDC share price of $12.25.
ResMed Inc. (ASX: RMD)
A final ASX 200 share that has been tipped to generate strong returns for investors is ResMed. It is a medical device company with a world class portfolio of products in the massive sleep treatment market. It has been tipped to grow strongly over the long term due to its leadership position, growing demand, and its patient-centric, connected-care digital platform. The latter is addressing the main pinch points across the healthcare value chain.
Credit Suisse is bullish on ResMed. So much so, it has an outperform rating and $43.00 price target on the company's shares. This compares favourably to the latest ResMed share price of $35.56.
