2 excellent ASX shares to buy in April

Pro Medicus Limited (ASX:PME) and this ASX share could be excellent options for ASX investors right now. Here’s why…
The post 2 excellent ASX shares to buy in April appeared first on The Motley Fool Australia. –

A man with a yellow background makes an annoncement, indicating share price changes on the ASX

Are you looking to make a few additions to your portfolio? If you are, then the ASX shares listed below could be worth considering.

Here’s why they have been given buy ratings:

Lendlease Group (ASX: LLC)

Lendlease is a global property and infrastructure company which is going through a major transformation.

Following the divestment of its struggling engineering business, the company revealed a new strategy that went down well with the market.

This strategy is aiming to shift its earnings mix and business model to be more like Goodman Group (ASX: GMG). And given Goodman’s impressive form over the last decade and its positive outlook, this can only be good news for shareholders.

One broker that is a fan of the new strategy is Goldman Sachs. It currently has a buy rating and $16.54 price target on the company’s shares.

Goldman has previously stated its belief that its shares will re-rate to higher multiples once it starts to successfully execute its new strategy.

Pro Medicus Limited (ASX: PME)

Pro Medicus is a healthcare technology company that provides a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups globally.

Arguably the key product in its portfolio is the Visage 7 platform. It delivers fast, multi-dimensional images streamed via an intelligent thin-client viewer. This makes it vastly superior to cumbersome legacy systems and has a proven return on investment for users.

Thanks to the quality of its technology, the company has won a large number of key contracts over the last few years, which is underpinning strong earnings growth. For example, for the six months ended 31 December, Pro Medicus delivered a 7.8% increase in revenue to $31.6 million and a 25.9% jump in underlying profit before tax to $18.76 million.

Positively, it still has a large pipeline of opportunities and a sizeable market opportunity to grow into in the future.

Goldman Sachs is also a fan of Pro Medicus. It recently upgraded Pro Medicus’ shares to a buy rating with a $53.80 price target. The broker believes the company is well-positioned to grow its earnings at a strong rate over the coming years.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 excellent ASX shares to buy in April appeared first on The Motley Fool Australia.

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