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Have £2k to invest? Here are 2 FTSE 100 stocks I’d buy in an ISA today

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With the FTSE 100 facing an uncertain future, many investors may feel now isn’t the right time to buy shares. After all, the index has experienced a decade-long bull market which will inevitably come to an end at some point.

However, the valuations of many of the index’s members suggest there are wide margins of safety on offer. There may also be growth opportunities that long-term investors can capitalise upon.

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With that in mind, here are two FTSE 100 shares that could be worth buying in a Stocks and Shares ISA today.

IHG

Tougher trading conditions in key markets such as the US and China negatively impacted on InterContinental Hotels (LSE: IHG) in its most recent quarterly performance. They could continue in the near term, and may mean its profit growth is somewhat subdued.

However, in the long run, the company appears to have a solid growth outlook. It recently launched its new premium brand Atwell Suites. It could provide the company with additional growth through appealing to a new customer demographic. IHG has also improved its loyalty offer through new partnerships. This could widen its economic moat and lead to improving financial performance.

The company’s valuation continues to be relatively high. For example, it trades on a price-to-earnings (P/E) ratio of around 22. However, it has recorded four consecutive years of double-digit earnings growth that suggests it has a sound business model and successful strategy. Alongside the continued improvements it’s making to its operations, this may mean the recent slowdown in its financial progress is a buying opportunity for long-term investors.

Centrica

The share price of Centrica (LSE: CNA) has gained a boost recently following the general election result. There was a chance it and other utility companies could have been nationalised under a Labour government. With that threat removed, the company’s shares have made recent gains.

However, they continue to trade significantly below their peak. This has largely been due to poor performances from various parts of the business that continued into its most recent quarterly update.

Despite this, the company is on track to meet its previous financial guidance for the full year. It’s making progress on cost savings and in customer account numbers, while there has been a recovery in business energy supply margins in North America.

Clearly, Centrica is experiencing a difficult period and investor sentiment is weak. Its P/E ratio of 12.7 reflects the uncertain future that may be ahead. However, after many years of disappointment, the stock could now offer turnaround potential.

It may be a relatively risky investment opportunity compared to some of its FTSE 100 index peers. But equally, it could prove to be highly rewarding if it’s able to make further progress with its strategy.

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Peter Stephens owns shares in Centrica. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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