Are you planning to make some new additions to your portfolio in the near future? If you are, then you might want to take a look at the ones listed below.
Here's why they have been tipped as ASX shares to buy:
CSL Limited (ASX: CSL)
The first ASX share to look at is CSL. This biotechnology giant is is made up of two businesses, CSL Behring and Seqirus. CSL Behring is the number one player in a global plasma therapies industry worth a massive US$30 billion per year. Whereas Seqirus is the number two player in the US$6 billion global influenza vaccines industry. The CSL share price has come under pressure this year due to plasma collection headwinds. While this is likely to weigh on its growth, UBS appears to believe it is worth dealing with this short term pain for the long term gains. Earlier this week the broker retained its buy rating and $346.00 price target on its shares.
People Infrastructure Ltd (ASX: PPE)
People Infrastructure is a leading workforce management company. It delivers a wide range of services to Australian businesses across four main sectors including healthcare, community services, industrial services, and information technology. In FY 2020, the company reported a 49.2% increase in normalised EBITDA to $26.4 million. While the new financial year is going to be harder because of the pandemic, Morgans believes the company is well-placed for long term growth. In light of this, it feels investors should be buying now while its shares trade at attractive levels. The broker has an add rating and $4.05 price target on its shares.
Pushpay Holdings Group Ltd (ASX: PPH)
Another ASX share that could be in the buy zone is Pushpay. It is a donor management and community engagement platform provider with a keen focus on the US faith sector. Pushpay has been a very strong performer over the last 12 months. It reported a 53% increase in operating revenue to US$85.6 million for the first half of FY 2021. This was driven by increasing demand for its platform thanks partly to COVID-19 tailwinds and the ongoing digitisation of the church. Analysts at Goldman Sachs are fans of the company. They have a conviction buy rating and ~$2.59 price target on its shares.
