Home Sports Analysts say these ASX 200 stocks are buying in October

Analysts say these ASX 200 stocks are buying in October

66
0

Image source: Getty Images

If you have room to add a new portfolio in October, then the three ASX 200 stocks listed below are worth considering.

Here’s what you need to know about these buy-rated stocks:

Lovisa Holdings Limited (ASX: LOV)

The first ASX 200 stock to watch is fast fashion jewelery retailer Lovisa. This may be the best long-term option due to the popularity of the affordable offering (potentially important in the current environment) and bold plans for global expansion. Regarding the latest analysis, Morgans see huge potential in the US market. They emphasize that there are 6 stores per million people in Australia. While in the US, Lovisa has only 0.25 stores per million people. In light of this, the broker believes that this could be “the beginning of a period of significant expansion.”

Morgans has an add rating and a $24.50 target price on the stock.

Another ASX 200 stock to watch is ResMed. It is a medical device company specializing in sleep treatment solutions. It’s a great market. As education about sleep disorders improves, the company’s target market continues to grow. This bodes well for demand for ResMed’s leading hardware and software solutions in the coming years. Especially taking into account the fact that, according to management estimates, only 20% of patients were diagnosed.

Credit Suisse is a supporter of ResMed and currently has an outperform rating and a $40.00 target price on the stock.

TechnologyOne Ltd (ASX: TNE)

The latest ASX 200 stock to watch is enterprise software provider TechnologyOne. This may be a better option due to the ongoing shift to software-as-a-service (SaaS)-oriented businesses. This transition is progressing very well and management expects this positive trend to continue in the coming years. In fact, it aims to almost double its annual recurring revenue (ARR) to $500 million by FY2026. This also bodes well for its bottom line growth given the higher revenue margins.

The Bell Potter team is very positive on Technology One and currently has an add rating and a $14.25 price target on the stock.

https://www.fool.com.au/2022/10/18/analysts-say-these-asx-200-shares-are-buys-in-october/

Previous articleEthiopia reports that government forces have captured three towns in Tigray
Next articleEuropean rugby giant Wasps have gone into administration