Are you wanting to boost your portfolio with some new additions this month? If you are, then you may want to check out the two high-quality ASX 200 shares listed below.
Here's why they could be top options in September:
Goodman Group (ASX: GMG)
Goodman could be an ASX 200 share to buy this month. It is an integrated industrial property company with a world-class portfolio.
The team at Morgans highlights that Goodman's shares aren't cheap. However, it feels that they deserve to trade at a premium due to the company's quality. The broker explains:
At an FY24f PER of c.20x, GMG is certainly not cheap, but quality companies rarely are. GMG is arguably an industry leader, focused on what remains the most contested real estate sub-sector – industrial. To this end, GMG's pipeline of development sites across Tier 1 cities should benefit from increased demand for densification and proximity to end customers.
Morgans has a buy rating and a $24.50 price target on Goodman's shares.
Qantas Airways Limited (ASX: QAN)
Another ASX 200 share that has been named as a buy is Qantas. It is the airline operator behind the Qantas and Jetstar brands. In addition, Qantas has a lucrative loyalty business with approximately 15 million members, as well as a large freight business.
Goldman Sachs has the company's shares on its conviction list and sees major upside ahead. This is because it believes Qantas' shares are undervalued based on its improved earnings capacity. It explains:
Notwithstanding a decline in unit revenues (and group capacity still at 95% of pre-COVID) our estimated FY24e EPS sits 89% above pre-COVID levels. Despite this, QAN's market capitalisation and EV is 1% and 13% lower than pre-COVID levels. We acknowledge broader macro uncertainty at this point in the cycle, but believe the current share price does not reflect the group's improved earnings capacity.
Goldman has a buy rating and $8.75 price target on its shares.
