The team at Morgans has been busy picking out its best ASX 200 share ideas for February.
The first two ASX 200 shares we looked at can be found here. Read on for two more picks:
Mineral Resources Ltd (ASX: MIN)
The broker remains positive on this beaten down ASX 200 mining and mining services share.
It believes it is well-positioned to handle lower lithium prices thanks to the diversity of its operations. In addition, it highlights its strong organic growth potential. Morgans said:
MIN is a founder-led business and top tier miner and crusher that has grown consistently despite barely issuing a share over the last decade. Also helping our investment view is that MIN's diversification leaves it far more capable of tolerating volatility in lithium markets than its peers in the sector. We see MIN's lithium / iron ore market exposures as an ideal combination to benefit from the China gradual recover. We also see MIN as well placed to grow into its valuation, even if we see unexpected metal price volatility, given the magnitude of organic growth in the pipeline.
Its analysts have an add rating and lofty $72.00 price target on Mineral Resources' shares.
QBE Insurance Group Ltd (ASX: QBE)
Morgans is a big fan of this insurance giant and sees it as an ASX 200 share to buy.
Its positive view is based on its expectation for premium increases and cost reductions to drive solid earnings growth over the coming years. In addition, it highlights the company's cheap valuation. It said:
With strong rate increases still flowing through QBE's insurance book, and further cost-out benefits to come, we expect QBE's earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.
Morgans has an add rating and $17.56 price target on QBE's shares. It also expects a very generous 6%+ dividend yield in FY 2024.
