Are you on the hunt for some new additions to your portfolio in April?
If you are, it could be worth checking out the ASX shares that analysts at Bell Potter and Morgans are recommending to clients.
Here's what you need to know:
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Harvey Norman Holdings Ltd (ASX: HVN)
The first ASX share that is rated as a buy is Harvey Norman.
Bell Potter acknowledges that there are risks in the retail sector, particularly given the company's exposure to multiple product categories. However, it believes Harvey Norman's geographic diversification and property assets help balance these risks.
Importantly, the broker sees value emerging in its shares after a sharp decline. Furthermore, it highlights that Harvey Norman's international store expansion, ongoing store upgrades in Australia, and significant property portfolio could support earnings growth over time.
Bell Potter has a buy rating and $6.70 price target on its shares. It said:
While our preference skews to category specialists with balance sheet strength, we see HVN's well balanced geographical diversification somewhat offsetting the multi-category risks.
Following the sharp sell-off in the name since Oct-25, HVN's 1-year forward P/E of ~13x (as per BPe) appears attractive considering the new store driven growth in international retailing (UK, Malaysia, Croatia), refit program in Australia and opportunities to grow their real estate portfolio as Australia's single largest owner in large format retail with a global portfolio of ~$4.6b.
Navigator Global Investments Ltd (ASX: NGI)
Another ASX share that is rated as a buy by brokers is Navigator Global Investments.
Morgans believes the company's recent acquisition of Georgian strengthens its long-term growth outlook. Georgian is an AI-focused growth equity firm, which Morgans believes aligns with key investment trends and could support earnings growth in the coming years.
While the broker has trimmed its price target due to broader market valuation changes, it does not believe the company's fundamentals have deteriorated. In fact, recent market volatility may even be supportive of its alternative asset management business.
Morgans has put a buy rating and $2.98 price target on its shares. It said:
NGI has acquired Georgian, a Toronto-based AI-focused growth equity firm. This deal appears to be a strategic fit for NGI, meeting its flagged acquisition criteria and being earnings accretive. We forecast NGI FY26F/FY27F/FY28F EPS to increase by ~1%-3% following the transaction. However, our target price reduces to A$2.98 (from A$3.35), reflecting a meaningful contraction in global peer trading multiples and our application of a more conservative valuation multiple to NGI (12.5x PE versus 15x previously).
NGI's recent sell-off appears to be mainly tied to Private Credit concerns around its key strategic partner Blue Owl. We think NGI's fundamentals are largely unchanged, and current market volatility is arguably conducive to its stable of alternative asset fund managers. We rate NGI a Buy.
