Buy these ASX shares for a winning retirement portfolio

If you are searching for retirement portfolio options this month, then you may want to look at the ASX shares listed below that have been named as buys.

Here’s why these shares could be top options for this portfolio:

CSL Limited (ASX: CSL)

When you are building a retirement portfolio, it is always a smart idea to focus on high quality companies.

Well, there are arguably few higher quality businesses out there than biotechnology giant CSL. It is the company behind the CSL Behring, CSL Seqirus and CSL Vifor businesses, which provide lifesaving therapies and vaccines to patients in more than 100 countries.

And with management always reinvesting heavily in its research and development (R&D) activities, CSL consistently has an R&D pipeline filled with potentially lucrative products.

Macquarie is a fan of the company and believes its outlook is very positive thanks to its key CSL Behring business. It currently has an outperform rating and $330.00 price target on its shares. In addition, it sees scope for them to rise to $500 within the next three years.

APA Group (ASX: APA)

Another ASX share to consider buying for a retirement portfolio is APA Group. It owns and operates energy infrastructure assets and businesses.

This includes energy infrastructure, comprising gas transmission, gas storage and processing, and gas-fired and renewable energy power generation businesses.

It could be a great option for retirees due to its defensive earnings, long track record of growth (almost 20 years of dividend increase), and big dividend yield.

In respect to the latter, analysts at Macquarie are forecasting dividends of 56 cents per share in FY 2024 and 57.5 cents per share in FY 2025. Based on the current APA Group share price of $8.33, this equates to 6.7% and 6.9% dividend yields, respectively.

Macquarie currently has an outperform rating and $9.40 price target on its shares.

Woolworths Limited (ASX: WOW)

A final ASX retirement share to consider buying is supermarket giant, Woolworths. This is due to its positive growth outlook and defensive earnings.

In respect to the former, Goldman Sachs’ analysts “forecast WOW 2-yr sales CAGR FY24-26e of +3.2% and EBIT growth of +4.8%.” This is expected to support the payment of fully franked dividends of $1.08 per share in FY 2024 and $1.14 per share in FY 2025. Based on the current Woolworths share price of $32.85, this implies yields of 3.3% and 3.5%, respectively.

Goldman also sees plenty of upside for investors. It currently has a buy rating and $39.40 price target on its shares.

The post Buy these ASX shares for a winning retirement portfolio appeared first on The Motley Fool Australia.

More reading

• How much could $10,000 invested in CSL shares be worth next year?
• 3 of the best ASX 200 blue chip shares to buy now
• Tax-busters: 5 fully-franked ASX dividend shares I’d buy for FY25
• 3 reasons to be positive on ASX 200 shares in FY25 (and 3 to be wary)
• Where Aussies are spending their money, and the ASX shares that could benefit

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group and Macquarie Group. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.