The team at Morgans has been busy picking out its best ASX 200 share ideas for September.
The first two ASX 200 shares we looked at can be found here. Read on for two more picks:
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CSL Limited (ASX: CSL)
Morgans believes that the biotherapeutics giant could be a top option for investors this month.
The broker thinks that recent share price weakness has created a buying opportunity. Particularly given the below-average multiples its shares trade on and its expectation for strong earnings growth. It explains:
While shares have struggled of late, we continue to view CSL as a key portfolio holding and sector pick, 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 trading at 25x, a substantial discount (20%) to its long-term average.
Morgans has an add rating and a $328.20 price target on CSL's shares.
ResMed Inc (ASX: RMD)
Another ASX 200 share that Morgans is positive on is sleep treatment company ResMed. It believes the obesity drug-related sell-off has been unwarranted and created an opportunity for investors.
Especially given how it doesn't believe the drugs will have a big impact on ResMed's overall market opportunity. It commented:
While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. Although quarters are likely to remain volatile, nothing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
Morgans has an add rating and a $36.95 price target on ResMed's shares.
