The team at Morgans regularly picks out its best ASX share ideas. These are the ASX shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe and are supported by a higher-than-average level of confidence.
Among its best ideas for April are the three ASX shares listed below. Here's what the broker is saying about them:
CSL Limited (ASX: CSL)
This biotherapeutics company remains a key pick for Morgans. Its analysts believe that CSL's outlook has improved materially since the height of the pandemic and are forecasting solid earnings growth in the coming years. The broker commented:
A key portfolio holding and key sector pick, we believe CSL is poised to break-out this year, a COVID exit trade, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares offering good value trading around its long-term forward multiple of ~30x.
Morgans has an add rating and $337.92 price target on CSL's shares.
Seek Ltd (ASX: SEK)
Another ASX share on Morgans' best ideas list this month is job listings giant Seek. The broker believes it is the best classifieds company to buy right now thanks to a number of tailwinds. It explained:
Of the classifieds players, we continue to see SEEK as the one with the most relative upside, a view that's based on the sustained listings growth we've seen over the period. The tailwinds that have driven elevated job ads (~210k currently, broadly flat on the robust pcp) and strong FY22 result appear to still remain in place, i.e. subdued migration, candidate scarcity and the drive for greater employee flexibility. With businesses looking to grow headcount in the coming months and job mobility at historically high levels according to the RBA, we see these favourable operating conditions driving increased reliance on SEEK's products.
The broker has an add and $28.40 price target on Seek's shares.
