If you are looking for some new additions to your portfolio in April, then the ASX 200 stocks listed below could be worth a closer look.
That's because they have been named on Bell Potter's Australian Equities Panel for the month. The broker notes that these are the shares that it believes "offer attractive risk-adjusted returns over the long term."
We have already covered two stocks on the list here. Let's now take a look at three more of the broker's top picks for the month. They are as follows:
CSL Ltd (ASX: CSL)
Bell Potter continues to believe that this biotechnology giant is an ASX 200 stock to buy now.
Its analysts think that recent weakness has created a buying opportunity for investors ahead of a very fruitful period for the company. It explains:
CSL presents an attractive buying opportunity as we anticipate the start of a margin recovery phase for CSL, driving above-market earnings growth over the next few years. CSL trades at a 12-month forward PE of ~22x, representing a discount to its 10-year average of ~31x. Furthermore, the company will continue to deleverage the balance sheet over the next few years. Given the company's proven quality and growth prospects, we believe significant upside remains.
James Hardie Industries plc (ASX: JHX)
Another ASX 200 stock that could be a top buy this month according to Bell Potter is James Hardie.
The broker believes that the building products company's shares are attractively priced following a significant pullback. Especially given its multi-year growth runway. It said:
In our view, JHX is poised for continued earnings expansion, driven by the structural shift towards fibre cement in the US. Households in the US continue to shift to fibre cement cladding from vinyl/timber, providing a multi-year runway for JHX's revenue and profit growth. With JHX announcing its intent to purchase AZEK, the share price has fallen from ~25%. While debate still wages around the deal, we retain JHX in our focus list as we see upside from these levels.
WiseTech Global Ltd (ASX: WTC)
A third ASX 200 stock that gets the thumbs up again from analysts at Bell Potter in April is WiseTech Global.
The broker likes the company due to its high degree of recurring revenue and long term growth runway. It explains:
WTC has a high degree of recurring revenue (80-85%) and should continue to grow its revenue/earnings from further customer wins. We see CargoWise as the market leader in freight forwarding software and expect growth to accelerate due to the launch of three new products, as well as ongoing global roll-out wins. All up, WTC is a growth story with strategic acquisitions representing upside potential enabling WTC to benefit from large-scale global rollouts and consolidation within the logistics sector.
