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2 of the best ASX share ideas according to this leading broker

These two ASX shares are highly rated…
The post 2 of the best ASX share ideas according to this leading broker appeared first on The Motley Fool Australia. –

If you’re looking for a few new additions to your portfolio in September, then look no further.

Analysts at Morgans have picked out a number of ASX shares that they class as their best ideas for the month.

Below are two that the broker rates highly in September:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

Morgans’ top pick among the big banks is ANZ. It currently has an add rating and $34.50 price target on the company’s shares. The broker likes the bank due to its attractive valuation and its cost reduction plans.

It explained: “We believe ANZ is the most compelling of the major banks on a valuation basis. We expect ANZ to continue to focus on absolute cost reduction over the medium term. ANZ has de-risked its loan book over recent years – particularly its institutional loan book – such that the quality of its loan book has improved. While ANZ’s Australian home loan book has been growing below system over recent months, we expect a disciplined margin performance from ANZ.”

The ANZ share price is fetching $27.55 on Friday.

BHP Group Ltd (ASX: BHP)

Another ASX share that the broker rates highly in September is BHP. Morgans likes the Big Australian due to its diversification, strong balance sheet, and resilient dividend profile. However, although Morgans feels BHP is one the best share ideas this month, its analysts actually have a hold rating on them. Though, their price target of $45.90 is notably higher than where the mining giant’s shares trade.

Morgans commented: “We view BHP as relatively low risk given its superior diversification relative to its major global mining peers. The spread of BHP’s operations also supplies some defence against direct COVID-19 impact on earnings contributors. While there are more leveraged plays sensitive to a global recovery scenario, we see BHP as holding an attractive combination of upside sensitivity, balance sheet strength and resilient dividend profile.”

The BHP share price is currently trading at $41.26.

The post 2 of the best ASX share ideas according to this leading broker appeared first on The Motley Fool Australia.

Should you invest $1,000 in BHP right now?

Before you consider BHP, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

A look at insider buying among ASX 200 big four bank shares

These ASX 200 dividend shares are about to dish out $40bn to shareholders

The ANZ (ASX:ANZ) share price is down 4% in a month. Here’s why.
ASX 200 sinks, BHP and CBA fall

Why BHP (ASX:BHP) shares have been getting these investors excited

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

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