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2 excellent ASX shares that could be strong buys

Altium Limited (ASX:ALU) and this ASX share could be strong buys right now. Here’s what you need to know about these excellent shares…
The post 2 excellent ASX shares that could be strong buys appeared first on The Motley Fool Australia. –

A fit man flexes his muscles, indicating a positive share price movement on the ASX market

If you’re wanting to take your portfolio to the next level, then buying these quality ASX shares could be one way to do it.

Here’s why these ASX shares are highly rated and could be strong buys right now:

Altium Limited (ASX: ALU)

Altium is an electronic design software provider that is best-known for its Altium Designer and Altium 365 platforms. But it doesn’t stop there, it also has the Octopart search engine and the NEXUS collaboration platform supporting its growth.

Altium’s platforms are widely regarded as the best in the industry and used by many of the world’s largest companies. One of those is electric vehicle giant Tesla. 

Thanks to favourable technology trends such as artificial intelligence and the internet of things, demand for its software is expected to grow strongly over the next decade. So much so, management is aiming to grow its revenue to US$500 million and its subscriber base to 100,000 by 2025/26. This compares to subscribers of 52,157 at the end of December and its FY 2021 revenue guidance of US$190 million to US$195 million. 

One broker that is a fan is Morgan Stanley. It currently has an overweight rating with a $37.00 price target on its shares.

REA Group Limited (ASX: REA)

REA Group is the dominant player in real estate listings in the Australian market. After several years of growth despite battling a housing market downturn and COVID-19, REA Group looks well-placed to go into overdrive now. 

After cutting costs materially and introducing new revenue streams, the company looks set to reap the rewards as demand for listings jumps thanks to the thriving housing market. This should be supported by its international operations, which have large opportunities as well.

Macquarie is very positive on REA Group. Its analysts currently have an outperform rating and $171.70 price target on its shares.

Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 excellent ASX shares that could be strong buys appeared first on The Motley Fool Australia.

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