Are you looking to make some additions to your portfolio in March? If you are, the three ASX shares listed below could be great options.
They have been tipped as shares that could generate strong returns for investors in the future. Here's why they could be five-star stocks:
Afterpay Ltd (ASX: APT)
This payments company could be a five-star stock. Afterpay has been growing at a rapid rate over the last few years. Positively, this has continued in FY 2021 thanks to its international expansion, the growing popularity of the buy now pay later payment method with consumers and merchants, increasing repeat use, and the shift to online shopping. Looking ahead, due to its expansion into new products and new territories (mainland Europe and potentially Asia), Afterpay still has a very long runway for growth. Morgan Stanley is positive on the company's growth prospects. Last week it retained its overweight rating and $159.00 price target.
CSL Limited (ASX: CSL)
This biotherapeutics giant could be another five star stock for investors to consider. This is due to the overall quality of the company and its lucrative portfolio of life-saving therapies and vaccines. Furthermore, thanks to its high level of investment in research and development (close to US$1 billion in FY 2021), the company has a pipeline filled to the brim with potential products which could generate billions of dollars of revenue in the future. And while the near term will be challenging because of plasma collection headwinds, this is only a temporary issue and not structural. Therefore, once the pandemic passes, collections should become easier again. Morgans is a fan of the company. Earlier this month the broker upgraded Afterpay's shares to an add rating with a $301.00 price target.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
A final five-star option is actually an ETF. The BetaShares NASDAQ 100 ETF could be a great option as it gives investors exposure to a large number of companies that could be classed as five-star stocks in their own right. This includes the likes of Alphabet, Amazon, Apple, Facebook, Microsoft, Nvidia, Starbucks, and Tesla. Given the positive long term growth outlooks of these companies, they could help drive outsized returns for the BetaShares NASDAQ 100 ETF in the future.
