2 fantastic ASX shares to buy this month

Altium Limited (ASX:ALU) and this ASX share could be fantastic options for investors in Fenruary. Here’s what you need to know…
The post 2 fantastic ASX shares to buy this month appeared first on The Motley Fool Australia. –

woman whispering secret regarding asx share price to a man who looks surprised

With a new month here, I’m sure many readers will be considering a few changes to their portfolio in the near future.

But which shares should you buy? To help narrow things down for you, I have picked out two ASX shares that are highly rated. They are as follows:

Altium Limited (ASX: ALU)

Altium is an award-winning printed circuit board (PCB) design software platform provider.

Over the last few years, Altium has become a leader in this growing market. But it isn’t settling for that. It has now set its sights on dominating it.

Management is aiming to achieve this by growing its subscribers to 100,000 by 2025/26.

A key part of this plan is its cloud-based Altium 365 product, which was released in 2020. This allows designers to work collaboratively from anywhere in the world and appears to have cemented its industry leadership position.

Furthermore, as well as giving it an edge over the competition, management notes that it provides opportunities for significant total addressable market expansion in the future.

All in all, this appears to have positioned the company for strong growth over the long term once the pandemic passes.

One broker that is a fan is Credit Suisse. Its analysts have an outperform rating and $35.00 price target on the company’s shares. The Altium share price closed at $31.02 on Tuesday.

Collins Foods Ltd (ASX: CKF)

Another ASX share to look at is quick service restaurant operator Collins Foods.

It is one of the largest operators of KFC restaurants in Australia and has a presence in the European market as well. It also has a smaller but growing number of Taco Bell restaurants across Australia.

Late last year its released its half year results and revealed an 11.3% increase in revenue to $499.6 million and a 15.1% lift in underlying net profit after tax to $27.5 million.

The good news is that management still sees plenty of room for growth in both the Australian and European markets. This should underpin solid growth in the future if Collins Foods can continue its positive trend of same store sales growth.

Analysts at UBS expect this to be the case. They believe the company is well-placed to continue this positive form over the medium term. In light of this, UBS has a buy rating and $11.65 price target on the company’s shares. This compares favourably to the latest Collins Foods share price of $9.63.

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James Mickleboro owns shares of Collins Foods Limited. 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 Collins Foods 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 fantastic ASX shares to buy this month appeared first on The Motley Fool Australia.

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