If you're looking to add some ASX 200 shares to your portfolio, then it could be worth checking out the two listed below.
Both have been rated as buys by the team at Morgans and tipped to climb materially higher from current levels. Here's what you need to know:
QBE Insurance Group Ltd (ASX: QBE)
The first ASX 200 share to look at is QBE. Morgans believes the insurance giant's shares are trading at a very attractive level, particularly given its improving outlook.
The broker currently has an add rating and $13.50 price target on the company's shares.
Morgans explained: "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 ~12x FY22F PE."
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX 200 share that could be in the buy zone right now according to Morgans is Treasury Wine. The broker likes the wine giant due to the quality of its Penfolds business, favourable tailwinds, and its highly regarded management team.
Its analysts have an add rating and $13.93 price target on the company's shares.
The broker commented: "TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The company recently reported an impressive 1H22 result despite facing a number of material headwinds. The foundations are now in place for TWE to deliver strong double digit growth from the 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us."
