If you're looking for a few new additions to your portfolio in June, then look no further.
Analysts at Morgans have picked out a number of ASX shares that they class as their best ideas for the month.
The first two I looked at can be found here. Whereas below are two more that the broker rates highly in June:
Santos Ltd (ASX: STO)
If you're looking for exposure to the energy sector then Morgans thinks Santos could be worth considering. It likes the company's diversified earnings base and sees plenty of growth opportunities. The broker explained:
We expect the resilience of STO's growth profile and diversified earnings base see it best placed to outperform against a backdrop of a broader sector recovery. While pre-FEED, we see Dorado as likely to provide attractive growth for STO, while its recent acquisition increasing its stake in Darwin LNG has increased our confidence in Barossa's development. PNG growth meanwhile remains a riskier proposition, with the government adamant it will keep a larger share of economic rents while operator Exxon has significantly deferred growth plans across its global portfolio.
Morgans has an add rating and $10.00 price target on the company's shares. This compares to the latest Santos share price of $8.40.
Wesfarmers Ltd (ASX: WES)
Another ASX share on the broker's best ideas list is this conglomerate. Morgans is bullish on Wesfarmers due to its high quality retail portfolio and strong management team. It also believes that recent share price weakness has created a buying opportunity. The broker said:
WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are proving to be a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the pullback in the share price as a good entry point for longer term investors.
Morgans has an add rating and $58.50 price target on the company's shares. This compares to the latest Wesfarmers share price of $47.20.
