2 excellent ASX 200 shares rated as buys

Pro Medicus Limited (ASX:PME) and this ASX share could be excellent options for ASX investors right now. Here’s why…

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If you are looking for some new portfolio additions, then the ASX shares listed below could be worth considering.

Here’s why these ASX 200 shares have been given buy ratings:

Goodman Group (ASX: GMG)

The first ASX 200 share to look at is Goodman Group. It is a global property group that owns, develops, and manages industrial real estate including logistics and industrial facilities, warehouses, and business parks.

Goodman has been growing at a solid rate over the last decade thanks to its high quality portfolio. Over the period, management has curated its portfolio to give it exposure to industries benefiting from structural tailwinds. These include areas such as online, logistics, food, consumer goods, and the digital economy.

Positively, with an occupancy rate at 98%, rental income growing nicely, and its work in progress worth $9.6 billion, the future is looking very positive.

Macquarie certainly believes this is the case. Last week it retained its outperform rating and lifted its price target to $20.87. It believes Goodman could achieve double digit earnings growth until at least FY 2024.

Lendlease Group (ASX: LLC)

Another ASX 200 share to look at is Lendlease. It is a global property and infrastructure company.

Lendlease has been going through a major transformation over the last couple of years. This has seen the company divest its struggling engineering business and launch a new strategy.

This new strategy is actually aiming to shift its earnings mix and business model to be more like Goodman. And given Goodman’s impressive form over the last decade and its positive long term growth outlook, this went down well with the market.

Goldman Sachs is a fan of the strategy. Its analysts currently have a conviction buy rating and $16.52 price target on the company’s shares.

The broker believes its shares are very cheap at the current level and is positive on the future thanks to its significant development pipeline.

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*Returns as of May 24th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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