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:
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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.
