If you are in the market for some new portfolio additions, then it could be worth hearing what Morgans is saying about the shares in this article.
That's because the broker recently named all three ASX 200 shares as buys. Here's what you need to know:
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Magellan Financial Group Ltd (ASX: MFG)
This fund manager could be worth considering according to the broker. It believes the merger with Barrenjoey is a game-changer and provides "additional pathways for growth."
Morgans has put a buy rating and $11.99 price target on Magellan's shares. It said:
MFG has given an end-to-March 2026 quarterly FUM update. FUM (A$37.5bn) was down 6% for the quarter due to a combination of outflows across most funds and market movements. Overall this was a softer quarter at the headline level, albeit some impacts from market volatility are unsurprising. We downgrade our MFG FY26F/FY27F EPS by -1%/-8% due to slightly weaker FUM assumptions and also applying more conservatism to our future Barrenjoey earnings forecasts.
Our PT falls to A$11.99 (from A$12.43). Whilst MFG's Investment Management performance remains patchy, we think the Barrenjoey merger fundamentally changes MFG's overall outlook, strengthening the business and providing additional pathways for growth. MFG also retains a strong balance sheet (~A$650m of liquidity, post deal). BUY maintained.
Nufarm Ltd (ASX: NUF)
Another ASX 200 share that has been given the thumbs up is agricultural chemicals company Nufarm.
In response to a better-than-expected performance in FY 2026, the broker put a buy rating and $4.05 price target on its shares. It said:
Pleasingly, NUF's 1H26 EBITDA guidance was slightly higher than expected and it has had a strong 1H. Importantly, its leverage guidance is materially better than expected. Initial outlook comments for the 2H26 were positive and a new A$50m cost out program has been announced.
Given the appreciation in active ingredient and fish oil prices, NUF's previous FY26 guidance could prove to be conservative. NUF is our key pick of the ag and chemical sector. The company is materially undervalued and we reiterate our BUY rating with a new price target of A$4.05.
Sigma Healthcare Ltd (ASX: SIG)
Morgans is also bullish on Chemist Warehouse owner Sigma Healthcare.
Due to its strong growth outlook and recent share price weakness, the broker has put a buy rating and $3.36 price target on the ASX 200 share. It explains:
SIG is a leading healthcare wholesaler, distributor and retail pharmacy franchisor with operations in Australia, NZ, Ireland and the UAE. We are forecasting ~20% EBIT growth p.a. over the next few years driven by strong LFL sales growth, store rollout (domestically and internationally), operating efficiencies and $100m p.a. synergies by FY29. Given the share price weakness, we have upgraded our recommendation to BUY (from ACCUMULATE) with an unchanged target price of $3.36 and 26% upside.
