Are you looking for some new additions to your portfolio in January? Then you might want to get better acquainted with the ASX 200 shares listed below.
Both companies have been tipped to grow strongly over the 2020s. Here's what you need to know about these ASX 200 shares:
Altium Limited (ASX: ALU)
Altium is an electronic design software provider which has been growing at a very strong rate over the last few years. Pleasingly, management remains confident that it still has a long runway for growth. This is thanks to its exposure to the growing Internet of Things and Artificial Intelligence markets, which are underpinning solid demand for subscriptions. Also supporting its growth will be the recent release of its cloud-based Altium 365 platform, which has been well-received by users.
It is aiming to almost double its subscriber numbers to 100,000 and its revenue by ~150% to US$500 million by 2025/26. Analysts at Credit Suisse are positive on its outlook. They have an outperform rating and $42.00 price target on its shares.
Nanosonics Ltd (ASX: NAN)
The COVID-19 pandemic has taught us that infection control is very important. This must be music to the ears of this infection prevention company. It is the company behind the industry-leading trophon EPR disinfection system for ultrasound probes. In addition to this, the company is hoping to launch several new infection control products in the near future which reportedly have similar addressable markets.
One broker that thinks investors should be buying Nanosonics' shares with a long term view is UBS. The broker notes that Nanosonics is a high-quality and structural growth story. It is expecting the company to benefit from post-COVID infection prevention tailwinds. Its analysts have a buy rating on its shares.
