If you have room in your portfolio for some new additions, then you may want to take a closer look at the ASX shares listed below.
All three have recently been tipped as buys by brokers. Here’s what analysts are saying about them right now:
Altium Limited (ASX: ALU)
Altium is an electronic design software provider. It is best-known for its Altium Designer and Altium 365 platforms. These platforms are regarded as the best in the industry and are used by many of the world’s largest companies such as BAE Systems, Microsoft, and Tesla. Altium appears well-placed for growth over the next decade thanks to the internet of things and artificial intelligence booms. These are driving strong demand for electronic design software.
Jefferies is a big fan of Altium and has a buy rating and $48.83 price target on its shares. This is notably higher than the current Altium share price of $37.07.
REA Group Limited (ASX: REA)
REA Group is the dominant player in real estate listings in the Australian market. It looks well-placed for growth in the coming years thanks to the improving housing market, new revenue streams, acquisitions, price increases, and its international operations.
Goldman Sachs is very bullish on REA Group. Its analysts currently have a buy rating and $193.00 price target on its shares. This compares to the latest REA Group share price of $147.07.
ResMed Inc. (ASX: RMD)
ResMed is a sleep treatment-focused medical device company. Thanks to its industry-leading products, growing software business, and the increasing awareness of sleep disorders, it has been growing at a strong rate for a good number of years. Pleasingly, it still has a significant market opportunity to grow into and also looks well-placed to benefit from the shift to home healthcare.
Morgans is positive on ResMed’s outlook. The broker currently has an add rating and $40.80 price target on the company’s shares. The ResMed share price last traded at $32.66.
Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. 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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