Buying an ASX share is easy. Finding one I would be comfortable leaving alone for many years is much harder.

For a genuine buy-and-hold investment, I want a strong business today with plenty of opportunity still ahead.

These three could be best buys for me.

Pro Medicus Ltd (ASX: PME)

Pro Medicus is an ASX share that has already grown enormously, but I still think its best years could be ahead.

The healthcare technology company develops the Visage imaging platform used by hospitals and radiology groups to view and manage medical images.

Despite winning contracts with some of the United States’ largest hospital networks, management has previously estimated that Pro Medicus still holds only around 11% of the market.

That leaves a substantial number of hospitals still available to win.

There is also more to the opportunity than radiology. Pro Medicus is expanding further into cardiology and broader enterprise imaging, potentially allowing its software to become more deeply embedded across hospital systems.

Winning major healthcare customers can take time, but once the platform becomes central to clinical workflows, I think those relationships can be extremely valuable.

That makes Pro Medicus the type of business I would be comfortable holding through short-term share price volatility.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne could also be one of the best ASX shares for a long holding period.

Its enterprise software is used by councils, universities, government organisations, and other large institutions to manage important day-to-day operations.

These customers generally do not change core software systems lightly. Moving financial, payroll, property, or other critical processes to another provider can be expensive and disruptive. That helps TechnologyOne build long customer relationships and recurring revenue.

I also like that the business still has opportunities outside Australia. Its expansion in the United Kingdom gives TechnologyOne another sizeable market to pursue, while continued investment in cloud software and artificial intelligence could increase the value of its products for existing customers.

Overall, I think TechnologyOne has many of the qualities I want from an ASX share I would own for a decade or longer.

REA Group Ltd (ASX: REA)

REA Group is another ASX share I would be comfortable owning for the long term.

Its realestate.com.au platform has become deeply embedded in how Australians search for property, giving the company a very strong position with both buyers and sellers.

That large audience is a major advantage. Property agents want to advertise where buyers are already looking, while buyers keep returning because that is where the listings are. I think that creates a network effect that is difficult for competitors to replicate.

The Australian housing market will always move through stronger and weaker periods, so listings activity can fluctuate.

But over a long timeframe, I think REA Group’s dominant position and ability to earn more from its audience give the business plenty of room to keep growing.

Foolish takeaway

I would not necessarily expect these ASX shares to outperform every year.

What I like is that each company has a strong position today and a clear opportunity to become much larger over the next decade.

If I could buy Pro Medicus, TechnologyOne, and REA Group at sensible valuations, I would be happy to hold them for years and give those growth stories time to develop.

The post Why I think these are the best ASX shares to buy and hold appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Uranium stocks have made headlines this week, with global tailwinds providing long-term upside for producers. 

In particular, Paladin Energy Ltd (ASX: PDN) has drawn significant attention from brokers.

Why the increased attention for uranium stocks?

As reported by my colleague Mark Verhoeven earlier this week, the spot price of uranium is hovering near US$90 a pound. 

However, more importantly, the long-term contract price is US$97 a pound, its highest level in more than eighteen years.

This is being driven by expectations of a gap between supply and demand. 

On the supply side, some of the world’s biggest uranium producers are facing production challenges and delays, making it harder to increase supply. 

At the same time, demand for uranium is expected to rise significantly as more countries build and rely on nuclear power. 

Utilities companies are already locking in uranium supplies years in advance because they want to make sure they have enough fuel for their reactors. 

If demand keeps growing while supply remains tight, uranium prices could stay strong or rise, which could benefit companies that produce or develop uranium projects. 

This is why investors are paying more attention to ASX-listed uranium stocks.

Why Paladin is a winner 

This is positive for Paladin Energy because it is already producing uranium through its Langer Heinrich mine in Namibia. 

If global uranium demand continues to rise while supply remains tight, uranium prices could increase, allowing the uranium stock to potentially generate more revenue and profits. 

In simple terms, it benefits if uranium becomes more valuable because it is already a producer and can sell into that stronger market.

Brokers tipping big upside 

Thanks to these emerging tailwinds, brokers are tipping healthy gains over the next 12 months for this ASX uranium stock. 

It closed trading yesterday at $11.73 per share. 

The team at Canaccord Genuity has a buy call on Paladin Energy shares with a $15.80 target.

This indicates a 34% upside from current levels. 

Elsewhere, Morgans has an accumulate rating and $13.30 price target, indicating 13% upside. 

The current Patterson Lake South (PLS) resource may only represent part of the story – The mine plan supports ~9Mlbpa over nine years, yet mineralisation remains open at depth and along strike, drilling density declines materially below 350m. We expect the resource and mine life to increase materially in time. Simply simple – PLS is one of the highest-grade undeveloped uranium projects globally, but its development plan is surprisingly conventional, with a TBM decline, proven mining methods, a standard Athabasca processing flowsheet and uncomplicated tailings storage reducing technical risk.

The post Brokers are confident in the outlook for this uranium stock tipping 34% upside appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell 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.

CSL Ltd (ASX: CSL) shares slipped 2% to $171.21 on Wednesday, but that hardly dents their remarkable recovery. The ASX biotech stock has surged 30% over the past month and is now up about 90% from its 11-year low of $90 in June.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has lost 4% in the past month.

After such a dramatic rebound, investors are asking a simple question: how much further can CSL shares go?

Why have CSL shares soared?

The catalyst was CSL’s FY26 result. On the surface, it looked ugly, with the $80 billion biotech reporting a US$2.6 billion net loss after tax.

Investors, however, quickly looked beyond the headline figure. The loss included US$7.1 billion of pre-tax impairments and US$799 million in restructuring costs, much of which was non-cash. Most impairments related to CSL Vifor intangibles and under-utilised property, plant and equipment.

Investors had already received a warning in May, when CSL flagged around US$5 billion of impairments and cut its FY26 guidance.

Excluding exceptional items, underlying NPATA fell just 2% to US$3.1 billion. Revenue declined 1% to US$15.8 billion, but still beat analyst expectations.

The result effectively gave investors what they wanted: a reset year, a cleaner balance sheet and an outlook that wasn’t as bad as feared.

Could FY27 send CSL shares higher?

The bull case now centres on FY27.

CSL expects underlying NPAT to grow approximately 5%, ahead of consensus expectations of around 2% growth. Behring is expected to deliver mid-single-digit growth, with immunoglobulins forecast to increase at a mid-to-high single-digit rate.

The biggest challenge remains Vifor, where revenue is expected to plunge about 25% as iron generics enter the market.

Consensus estimates suggest CSL could generate earnings per share of roughly $9.00 in FY27, rising to $9.50 in FY28 and $10.10 in FY29.

At $171.21, CSL shares are valued at around 19 times forecast FY27 earnings. That’s not cheap, but it arguably looks reasonable for a global healthcare leader returning to earnings growth.

By FY29, the valuation falls to roughly 17 times forecast earnings if those estimates are achieved.

What do brokers think?

Brokers aren’t uniformly convinced the recovery has further to run. Of 19 analysts tracked by TradingView, 10 rate CSL shares a hold, while nine have a buy or strong-buy rating.

The average 12-month price target is $173.04, barely above the current share price.

There’s a huge spread between individual forecasts. The most bullish target is $206.76, implying another 21% upside. The lowest sits at $131.49, suggesting roughly 23% downside.

Macquarie is among the most cautious, with a neutral rating and target of just over $133. UBS is more optimistic at $181, while Morgan Stanley has a $172 target.

Foolish takeaway

CSL has staged an extraordinary recovery, but the easy gains may already have been made.

The business is emerging from a difficult period with a cleaner balance sheet and expectations for improving earnings. However, the broker targets suggest the market remains divided over how quickly that recovery will translate into shareholder returns.

At around 19 times FY27 earnings, CSL shares aren’t screamingly cheap. Investors buying today are effectively betting that the company’s earnings recovery will beat expectations.

If it does, there’s potentially more upside. If growth disappoints, the recent 90% rebound leaves plenty of room for the shares to fall.

The post CSL shares are up 90%. How much higher can they go? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. 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.