Analysts name 3 ASX 200 shares to buy now

Here are three ASX 200 shares to buy…

| More on:
A man sees some good news on his phone and gives a little cheer.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you’re interested in adding some S&P/ASX 200 Index (ASX: XJO) shares to your portfolio, then the three listed below could be top options.

These ASX 200 shares have been named as buys with meaningful upside potential. Here’s what you need to know about them:

Seek Limited (ASX: SEK)

The first ASX 200 share that could be a buy is this leading job listings company. Seek appears well-positioned for growth thanks to its leadership position in the ANZ market, strong pricing power, and exposure to the region’s recovery from the COVID-19 pandemic.

Morgan Stanley is a fan of Seek. Its analysts currently have an overweight rating and $36.00 price target on its shares. It expects Seek to benefit from the tight labour market and higher than normal rates of job churn.

TechnologyOne Ltd (ASX: TNE)

Another ASX 200 share to look at is enterprise software provider TechnologyOne. It is currently transitioning to become a software-as-a-service (SaaS) focused business. Pleasingly, management has a lot of confidence in the transition and is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026.

The team at Goldman Sachs is very positive on Technology One. So much so, this week the broker initiated coverage on the company’s shares with a buy rating and $14.00 price target. Goldman believes the risks are to the upside for TechnologyOne’s ARR target.

Westpac Banking Corp (ASX: WBC)

A final ASX 200 share that could be in the buy zone is Westpac. Australia’s oldest bank has seen its shares underperform peers materially over the last six months. This is unwarranted according to analysts at Morgans, which see “considerable value” in the bank’s shares. Especially given its “expectation of significant cost out by FY24F.”

Morgans has an add rating and $29.50 price target on the bank’s shares.

Motley Fool contributor James Mickleboro owns NEXTDC Limited and SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Blue Chip Shares

A happy woman in an office puts her hands in the air as if to celebrate while looking at computer.
Blue Chip Shares

Here are 2 blue chip ASX shares analysts rate as buys

Here are two ASX blue chip shares to buy...

Read more »

Woman in mustard yellow blouse on laptop holds both hands out to either side with graphic illustration of question marks above them
Blue Chip Shares

Are these blue chip ASX 200 shares in the buy zone?

Are these blue chips in the buy zone?

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

Experts say investors should buy these top blue chip ASX shares

Analysts are saying that these blue chip shares are in the buy zone…

Read more »

shares record high
Blue Chip Shares

Broker names 2 of the best ASX 200 shares to buy now

Here are two high quality ASX 200 shares rated as buys...

Read more »

Three young people in business attire sit around a desk and discuss.
Blue Chip Shares

Why I would invest $10,000 in these 3 ASX shares

Here's why I think these could be some of the best shares to buy...

Read more »

Two businesspeople walk together in an office, smiling as they enjoy a good business relationship.
Blue Chip Shares

Experts rate these ASX 200 blue chip shares as buys

These blue chips have been named as buys...

Read more »

A female stockbroker reviews share price performance in her office with the city shown in the background through her windows
Blue Chip Shares

2 blue chip ASX 200 shares Morgans rates as buys

These two ASX 200 blue chip shares are highly rated...

Read more »

A group of stockbrokers sit in a room with several computer screens in front of them as they discuss the Zip share price and Zip's merger with Sezzle
Blue Chip Shares

2 blue chip ASX 200 shares that Goldman Sachs rates as buys

These ASX 200 shares could be buys according to Goldman Sachs...

Read more »