If you're looking for some new portfolio additions in June, then it could be worth looking at the ASX 200 shares listed below that have recently been named as buys.
Here's why brokers are positive on these top shares:
CSL Limited (ASX: CSL)
The first ASX 200 share that has been named as a buy is CSL. It is one of the world's largest biotech companies and the owner of three world-class businesses: CSL Behring, CSL Vifor, and Seqirus.
Morgans is a fan of the company and has an add rating and $337.92 price target on its shares. It believes CSL is well-placed for growth now COVID headwinds have faded. It said:
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.
Goodman Group (ASX: GMG)
Over at Citi, its analysts believe this ASX 200 integrated industrial property share is a buy. The broker currently has a buy rating and $24.30 price target on its shares.
Citi believes Goodman is well-positioned to deliver solid earnings growth for the foreseeable future. It said:
We see potential for GMG to generate consistent high-single to low-double digit earnings growth over the medium term driven by rental upside and longer term development projects, which will add to management and development earnings. The stock currently trades at c. 19x FY24e, below global industrial peers, despite having higher earnings growth and lower leverage. We therefore see upside to the share price and retain Buy.
ResMed Inc. (ASX: RMD)
A final ASX 200 share that has been named as a buy is sleep treatment solutions company ResMed.
Goldman Sachs is a fan of the company and has a buy rating and $39.60 price target on its shares. It sees a lot of value in its shares at current levels:
We continue to see a long-duration runway of HSD organic growth for RMD, and we believe valuations (PE: 31.4x / EV/EBITDA: 22.0x) both c.6% below 5-year averages and growth-adjusted valuation of 2.6x (sector 2.4x) are not demanding in the context of various near/long-dated tailwinds.
