The team at Morgans has been looking over a number of ASX 200 shares once again.
Among its best ideas for May are the blue chip ASX 200 shares listed below. Here’s what you need to know about them:
ResMed Inc (ASX: RMD)
The first ASX 200 share that could be in the buy zone according to Morgans is ResMed. While the broker suspects that supply chain issues could make things volatile in the near term, it remains very positive on the long term.
While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
Morgans has an add rating and $39.23 price target on ResMed’s shares.
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX 200 share that could be a top option for investors is Treasury Wine. Morgans rates the wine giant highly due to its strong portfolio and its recent restructuring. All in all, it feels this has positioned the company for strong growth over the coming years.
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.
Morgans has an add rating and $13.93 price target on Treasury Wine’s shares.