Top analysts say investors should buy these quality ASX shares

There are a lot of quality shares to choose from on the Australian share market. To narrow things down, listed below are a couple of ASX shares that are highly rated by analysts.

Here’s what they are saying about them:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX share to look at is Aristocrat. It is a gaming technology company best-known for its industry-leading poker machines. However, it also has a digital business, named Pixel United, which is generating significant recurring revenues from mobile games.

But management isn’t settling for that. As well as investing heavily in research and development each year, it is aiming to expand into the emerging real money gaming market.

Citi is very positive on Aristocrat. Its analysts believe the company “represents a compelling long-term growth story” and recently noted that “while industry-wide trends present a risk to Aristocrat’s digital bookings outlook, the company’s key social casino titles and RAID had outperformed within their respective genres.”

The broker currently has a buy rating and $41.00 price target on the company’s shares.

Lifestyle Communities Limited (ASX: LIC)

Another ASX share that could be a quality option for investors is retirement communities company, Lifestyle Communities.

It develops, owns, and manages affordable independent living residential land lease communities and, at the last count, had 26 residential land lease communities under contract, in planning, in development, or under management.

Goldman Sachs is very positive on the company and believes it is well-placed to benefit from Australia’s ageing population and the structural growth in land lease living. It explained:

We believe LIC is well positioned to benefit from shifting demographic trends, as its business helps address some critical emerging social issues. Its core business is to provide affordable housing to an ageing population, addressing a key social issue that is becoming more prevalent as the proportion of over 50’s increases. We expect as this population cohort continues to grow, this should deliver structural growth for the industry; we expect demand to far outpace supply at current build rates.

Goldman has a conviction buy rating and $24.30 price target on its shares.

The post Top analysts say investors should buy these quality ASX shares appeared first on The Motley Fool Australia.

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More reading

• Experts name 2 ASX growth shares to buy with double-digit upside potential
• Experts say these ASX tech shares would be excellent buys
• Goldman Sachs names 2 ASX shares as conviction buys
• Why this leading broker is bullish on the Aristocrat share price
• Can the Lifestyle Communities share price recover in FY23?

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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