These ASX shares could be in the buy zone this month…
The post 3 fantastic ASX shares that could be buys appeared first on The Motley Fool Australia. –
Are you interested in adding some more ASX shares to your portfolio?
Three ASX shares that could be worth considering this month are listed below. Here’s what you need to know about them:
Altium Limited (ASX: ALU)
The first ASX share to look at is Altium. It is an award-winning printed circuit board (PCB) design software provider. It could be worth considering due to its leading position in a market exposed to the Internet of Things and artificial intelligence booms. The proliferation of electronic devices is expected to lead to increasing demand for its software over the next decade.
This morning Citi upgraded its shares to a buy rating with a $35.40 price target. This compares to the latest Altium share price of $29.95
Appen Ltd (ASX: APX)
Another ASX share to consider is Appen. It has a million-plus team of crowd sourced experts preparing the data that goes into artificial intelligence and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. While demand has been subdued recently and led to Appen falling short of expectations in the first half of FY 2021, it has been tipped to bounce back strongly. Especially given how the artificial intelligence and machine learning markets are forecast to grow materially in the future.
Citi remains positive on the company. It has a buy rating and $18.80 price target on its shares. This compares very favourably to the current Appen share price of $10.53.
Cochlear Limited (ASX: COH)
A final ASX share to look at is Cochlear. It is one of the world’s leading hearing solutions companies and has a long track record of delivering earnings growth. While the pandemic was weighing on its performance, it has bounced back strongly recently. Looking longer term, the company appears well-placed for growth over the next decade. This is thanks to the ageing populations tailwind and its industry leading products.
Macquarie is very positive on the company’s long term outlook. It has an outperform rating and $256.00 price target on its shares. The Cochlear share price is currently fetching $231.30.
Wondering where you should invest $1,000 right now?
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Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
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. owns shares of and has recommended Altium, Appen Ltd, and Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Altium and Appen Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.