A new month is here, so what better time to consider making some new additions to your portfolio.
With that in mind, listed below are five ASX shares that could be worth considering after the Easter break. They are as follows:
Adore Beauty Group Limited (ASX: ABY)
The first share to look at is Adore Beauty. Australia's leading online beauty retailer has been a performing very strongly in FY 2021. In February, the company released its half year results and revealed an 85% increase in revenue to $96.2 million and a 188% jump in EBITDA to $5.2 million. Pleasingly, the company looks well-placed to continue this positive form for a long time to come. This is thanks to its large market opportunity and the low penetration of beauty sales in Australian in comparison to other Western markets. UBS currently has a buy rating and $6.20 price target on its shares.
Altium Limited (ASX: ALU)
Another option is Altium. It is an electronic design software provider best-known for its Altium Designer and Altium 365 platforms. These platforms are dominating the electronic design market and look set to underpin strong growth for Altium over the next decade. Especially given the increasing demand for this kind of software thanks to the growing Internet of Things and artificial intelligence markets. UBS is positive on Altium as well. It currently has a buy rating with a $34.00 price target on its shres.
CSL Limited (ASX: CSL)
CSL could be another ASX share to buy. Especially given how the shares of this leading biotechnology company have fallen heavily from their highs. This share price weakness has been driven by plasma collection headwinds caused by the pandemic. The good news is that increased demand for flu vaccines from the Seqirus business looks set to offset much or even all of this. And with plasma collections expected to improve once the pandemic passes, CSL appears well-placed for growth once conditions ease. This should be supported by its lucrative R&D pipeline, which is filled with a number of potentially lucrative therapies. Citi has a buy rating and $310 price target on its shares.
ResMed Inc. (ASX: RMD)
Another option to consider is ResMed. It is a leading medical device company with a focus on the sleep treatment market. ResMed has been growing at a very strong rate over the last decade thanks to the quality of its products and its huge and growing market opportunity. The latter is being underpinned by the increasing awareness of sleep disorders such as sleep apnoea. Morgans appears to believe that ResMed can continue this strong form in the years to come. It has an add rating and $30.09 price target on its shares.
Xero Limited (ASX: XRO)
A final option to consider is Xero. This cloud-based business and accounting platform provider has been growing strongly over the last few years. This has been driven by the shift to the cloud, its international expansion, acquisitions, and increasing revenue per user. Pleasingly, these same trends look set to underpin further strong growth over the next decade. This should be supported by its burgeoning app ecosystem. Goldman Sachs is very positive on the company. It has a buy rating and $157.00 price target on its shares.
