Are you looking to make a few additions to your portfolio? If you are, then the ASX shares listed below could be worth considering.
Here's why they have been given buy ratings:
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Lendlease Group (ASX: LLC)
Lendlease is a global property and infrastructure company which is going through a major transformation.
Following the divestment of its struggling engineering business, the company revealed a new strategy that went down well with the market.
This strategy is aiming to shift its earnings mix and business model to be more like Goodman Group (ASX: GMG). And given Goodman's impressive form over the last decade and its positive outlook, this can only be good news for shareholders.
One broker that is a fan of the new strategy is Goldman Sachs. It currently has a buy rating and $16.54 price target on the company's shares.
Goldman has previously stated its belief that its shares will re-rate to higher multiples once it starts to successfully execute its new strategy.
Pro Medicus Limited (ASX: PME)
Pro Medicus is a healthcare technology company that provides a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups globally.
Arguably the key product in its portfolio is the Visage 7 platform. It delivers fast, multi-dimensional images streamed via an intelligent thin-client viewer. This makes it vastly superior to cumbersome legacy systems and has a proven return on investment for users.
Thanks to the quality of its technology, the company has won a large number of key contracts over the last few years, which is underpinning strong earnings growth. For example, for the six months ended 31 December, Pro Medicus delivered a 7.8% increase in revenue to $31.6 million and a 25.9% jump in underlying profit before tax to $18.76 million.
Positively, it still has a large pipeline of opportunities and a sizeable market opportunity to grow into in the future.
Goldman Sachs is also a fan of Pro Medicus. It recently upgraded Pro Medicus' shares to a buy rating with a $53.80 price target. The broker believes the company is well-positioned to grow its earnings at a strong rate over the coming years.
