Coles Group Ltd (ASX: COL)The first ASX 50 share to look at is...

Coles Group Ltd (ASX: COL)

The first ASX 50 share to look at is Coles. This supermarket giant could be a top option due to its strong market position and solid long term growth potential.

In respect to its market position, Coles now has over 800 supermarkets, over 900 liquor retail stores, and over 700 Coles express stores. From this sprawling network, the company processes the equivalent of 35 transactions every second.

The team at Morgans are positive on the company. The broker currently has an add rating and $19.80 price target on its shares. Morgans believes Coles’ shares offer a lot more value for money than rival Woolworths Group Ltd (ASX: WOW).

Morgans said: “While vaccines are being rolled out across Australia, we think people will continue to spend more time at home due to the ongoing risk of COVID flare-ups with the working-from-home trend also likely to stay for some time (eg, Sydney and Melbourne remain in lockdown indefinitely). This will be beneficial for the major supermarket operators. We continue to see COL (~24x FY22F PE and ~3.5% yield) as offering better value than WOW (32x FY22F PE and 2.5% yield).