On Wednesday I looked at a few shares that have been declared as Morgans' best ideas for April. You can read about them here.
Today, I'm going to look at a few other shares that make the broker's list. Here are three:
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BHP Group Ltd (ASX: BHP)
Morgans has named this mining giant on its best ideas list for April. The broker is a fan of the Big Australian due to its diverse portfolio of assets and its resilient dividend profile.
The broker 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."
Sydney Airport Holdings Pty Ltd (ASX: SYD)
One company that won't be paying a dividend for a little while is Sydney Airport. Nevertheless, Morgans believes now is an opportune time to invest. This is because it sees the airport operator as a great option for investors looking for exposure to the COVID-19 recovery.
Its analysts said:
"Revenues have been badly affected by COVID-19-related government travel restrictions. For the short term SYD is no longer a yield stock (we do not expect it to pay a distribution until 2022/23). It is a capital growth play. SYD remains a premier airport asset whose earnings and thus share price we think will rebound with a recovery in pax (particularly the far more valuable international pax)."
Westpac Banking Corp (ASX: WBC)
Finally, this banking giant is the broker's number one pick among the major banks. This is due largely to its current valuation and its risk profile.
Morgans commented:
"We believe WBC offers the most compelling valuation of the major banks. In terms of quality of overall risk profile, we believe WBC is a close second to CBA. On credit risk, we believe WBC is positioned relatively defensively due to its loan book being more skewed to Australian home lending."
