Do you have $1,000 burning a hole in your pocket? If you do, it could be worth putting it to work in the share market.
After all, the potential returns on offer in the share market are vastly superior to what is on offer from savings accounts right now.
But which ASX 200 shares would be good picks for investors? Let's look at three that brokers rate as buys. They are as follows:
Cochlear Ltd (ASX: COH)
The first ASX 200 share that could be a buy is Cochlear. It is one of the world's leading names in implantable hearing solutions. The company has a dominant position in its niche, with strong brand trust, deep clinical relationships, and an ever-expanding global footprint.
Cochlear continues to benefit from ageing populations, rising awareness, and advances in technology, all of which support strong long-term demand.
The team at Citi believes investors should be buying its shares right now. The broker recently upgraded its shares to a buy rating with a $300.00 price target.
Megaport Ltd (ASX: MP1)
Another ASX 200 share that brokers rate as a buy is Megaport.
It operates in the engine room of the digital economy — on-demand cloud connectivity. Megaport's platform helps businesses move data quickly and securely between data centres and major cloud providers.
Morgans is bullish on the company and believes it stands to benefit greatly from the artificial intelligence (AI) megatrend. Its analysts think "it is uniquely placed to help business move data globally and benefit from the growth of data related to both cloud computing and AI."
It is for this reason that Morgans has an add rating and $14.00 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
A third ASX 200 share that brokers rate as a buy is Temple & Webster. It is a pure-play online retailer specialising in furniture and homewares.
With a growing market share, a loyal customer base, and a strong focus on profitability, Temple & Webster is positioning itself as the long-term leader in online home retail. It is also expanding into new verticals like trade and renovation, which could become powerful growth drivers in the years ahead.
And with the structural shift to online shopping still only in its infancy for Temple & Webster's category, its long term growth outlook appears very bright.
Citi is also very positive on this company. Its analysts currently have a buy rating and $21.10 price target on its shares.
