If you’re wanting to follow in the footsteps of Warren Buffett and make some buy and hold investments, then you might want to take a look at the ASX shares listed below.
Both of these shares appear fairly priced to analysts, have strong business models, and very positive long term outlooks. Here’s why they could be shares to buy:
Nanosonics Ltd (ASX: NAN)
The first ASX share to consider as a buy and hold investment is Nanosonics. It is the infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes.
The company’s trophon EPR system has been growing its market share at a consistently solid rate over the last decade. This has underpinned solid unit sales and even stronger recurring revenue growth from the consumables the system requires.
And while the pandemic has hit the company hard, it is also raising awareness of the importance of infection control. This bodes well for the company once the pandemic passes. Especially given how Nanosonics is aiming to release several new products targeting unmet needs in the near future.
Analysts at UBS are positive on the company. Last month they put a buy rating and $7.20 price target on its shares. UBS believes Nanosonics is a high-quality structural growth story, particularly in a post-COVID world.
NEXTDC Ltd (ASX: NXT)
Another ASX share that could be a good buy and hold option is NEXTDC. It is a technology company that provides innovative data centre outsourcing solutions, connectivity services, and infrastructure management software.
NEXTDC has been a big winner from the ongoing shift to the cloud. This has led to demand for data centre services increasing strongly over the last decade. Positively, the shift still has a long way to go, which bodes well for its future.
But management isn’t resting on its laurels. The company recently opened up offices in Singapore and Tokyo with a view of expanding into these markets in the near future. If it can repeat its success in this market, its growth could continue for a very long time to come.
Goldman Sachs is a fan of the company. Last month its analysts put a buy rating and $13.50 price target on the company’s shares.
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More reading
- NEXTDC (ASX:NXT) share price tipped to charge 28% higher
- 2 rapidly growing ASX shares that could be strong buys in April
- The Nanosonics (ASX:NAN) share price is down 25% this year
- 2 of the best ASX shares to buy this month
- How this exponential growth could send ASX 200 data centre shares soaring
James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited. 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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