If you are looking for some new ASX 200 shares to buy, then read on!
That's because the three named below have been named as buys by analysts at Morgans this month.
Here's what the broker is saying about these shares:
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IPH Ltd (ASX: IPH)
The team at Morgans thinks that this intellectual property (IP) services company's shares could be undervalued by the market right now.
The good news is that its analysts feel that a re-rating could be on the cards, though investors may need to be patient. They said:
IPH's trading update was effectively in line with recent earnings trends, with some minor incremental pressures (currency; lower Canada Litigation revenue). 1Q25 like-for-like (LFL) revenue and EBITBA were marginally above the pcp but underlying EBITDA (includes acquisitions and currency) was impacted by negative currency movements.
The currency move in 2Q to-date is favourable. LFL growth was recorded in Australia and Canada (although implied to be subdued), with Asia seeing moderate earnings decline. IPH's valuation is undemanding (~11.5x FY25F PE) but investor patience is required given the delivery of organic growth looks to be the catalyst for a re-rating.
Morgans has an add rating and $6.80 price target on its shares. In addition, a dividend yield of almost 7% is expected in FY 2025.
Jumbo Interactive Ltd (ASX: JIN)
Another ASX 200 share that Morgans is positive on is online lottery ticket seller Jumbo Interactive.
It feels that recent share price weakness has created a buying opportunity. It said:
Following the AGM address and trading update we have trimmed our expectations to reflect a lower number of large Division 1 jackpots offset by weaker margins, updating our multiples-based valuation as well as updating FX assumptions. This stock tends to trade on jackpotting draws, and we see the current setup as an ideal time to initiate or add to a position.
The broker has put an add rating and $15.80 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Finally, the team at Morgans has just upgraded this ASX 200 share.
While a touch disappointed with the logistics solutions technology company's recent trading update, it believes its valuation is looking very attractive. It explains:
WTC announced a downgrade to its FY25 guidance at its AGM, driven by delays to the launch of its Container Transport Optimisation (CTO) product into 2H25. (This is 1 of 3 products previously slated to launch in 1H25). At the midpoint WTC's downgrade represents a ~7.4% reduction to EBITDA for FY25F. We reduce EBITDA forecasts by -5.4% and -0.3% in FY25-26F, and upgrade our FY27F EBITDA by +2.6%, which reflects a pushing out of revenue growth expectations.
Our multiple-based valuation is rolled forward to FY26F, better capturing the ramp-up of WTC's new products (EV/EBITDA Multiple unchanged). This sees our price target increase to $135.30/sh (prev. $114.20). Following the pullback in WTC's share price we see the company trading at an increasingly attractive FY26F EV/EBITDA multiple, and view its upcoming investor day as a potential catalyst for the stock. We therefore upgrade to an Add rating.
Morgans has an add rating and $135.30 price target on its shares.
