If you’re looking to put your money to work by investing in the share market, then you might want to take a look at the ASX shares listed below.
Here’s why they are highly rated and tipped to provide strong returns for investors:
Altium Limited (ASX: ALU)
Altium is the printed circuit board (PCB) design software provider behind the Altium Designer and cloud-based Altium 365 platforms. These platforms are regarded to be the best in the industry and have significant advantages over competitors such as Cadence. Given that PCBs are found inside almost all electronic devices, the company has been benefitting greatly from the proliferation of electronic devices due to the Internet of Things and artificial intelligence markets. Positively, this trend is expected to continue over the 2020s and drive strong sales and profit growth. Analysts at Morgan Stanley are positive on the company. They have an overweight rating and $37.00 price target on the company’s shares.
CSL Limited (ASX: CSL)
Another top ASX share to consider buying is CSL. It is one of the world’s leading biotechnology companies and the name behind the CSL Behring and Seqirus businesses. CSL Behring is the number one player in a global plasma therapies industry worth a massive US$30 billion per year. Whereas the Seqirus business is now the second largest player in the global influenza vaccines industry. Credit Suisse is a fan of CSL and has an outperform rating and $325.00 price target on its shares. While the broker notes that the company is facing plasma collection headwinds, it believes demand remains strong for its therapies and flu vaccines.
Whispir Ltd (ASX: WSP)
Whispir is a software-as-a-service communications workflow platform provider. Its industry-leading software platform allows users to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. Whispir has been growing strongly in recent years but still has a very long runway for growth ahead of it. Management estimates that the Workflow Communications platform as a Service market could be worth US$8 billion per year by 2024. Analysts at Wilsons are positive on the company and currently have an overweight rating and $5.10 price target on its shares.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- One year on and 50% up, the All Technology Index is booming
- Top brokers name 3 ASX shares to buy today
- AstraZeneca vaccine approved for use in Australia, CSL (ASX:CSL) share price up
- The latest ASX shares upgraded by brokers to “buy” during the reporting season
- 3 things you might have missed from the Altium (ASX:ALU) half year result
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 Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Whispir Ltd. 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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