The team at Morgans has been busy running the rule over a number of ASX 200 shares again.
We have already covered a few of its best ideas here and here. But the list continues with the three ASX 200 shares listed below:
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BHP Group Ltd (ASX: BHP)
This mining giant could be a top option for investors looking for exposure to the resources sector. Morgans currently has an add rating and $51.80 price target on its shares. It likes BHP due to the diversification of its portfolio and balance sheet strength.
Morgans 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."
Cochlear Limited (ASX: COH)
Another ASX 200 share to look at is Cochlear. Morgans is a fan of the company due to its leadership position in implantable hearing solutions and the improving demand outlook. Morgans is expecting the latter to underpin strong earnings in the coming years. The broker has an add rating and $233.20 price target on its shares.
It said: "Cochlear maintains a dominant position in the implantable hearing solutions segment. While we continue to believe a full recovery from Covid-based disruptions still has time to play out, improving demand and strong pipeline, coupled with management's increasing confidence, suggests an improving earnings profile."
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX 200 share on Morgans' best ideas list is Treasury Wine. Morgans believes the wine giant's shares are trading at a very attractive level, particularly given its positive growth outlook. The broker currently has an add rating and $13.93 price target on the Treasury Wine's shares.
It said: "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 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."
