4 buy-rated ASX shares for June

These ASX shares could be worth a closer look this month…

| More on:
steps to picking asx shares represented by four lightbulbs drawn on chalk board

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you interested in adding some ASX shares to your portfolio in June?

Four ASX shares that could be worth considering this month are listed below. Here's what you need to know about them:

Appen Ltd (ASX: APX)

Appen has a team of over one million crowd sourced experts preparing the data that goes into artificial intelligence (AI) and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. And although demand has softened during the pandemic, it is expected to rebound once the crisis passes. Especially given how spending on AI is forecast to grow materially over the next decade. Ord Minnett currently has a buy rating and $24.75 price target on its shares.

Cochlear Limited (ASX: COH)

Cochlear is one of the world's leading hearing solutions companies. It has a long track record of delivering solid earnings growth thanks to its world class portfolio of products, ageing populations, and its high level of investment in research and development. Positively, all these drivers remain in place today, which appears to have put Cochlear in a position to continue its growth over the next decade. Macquarie has an outperform rating and $245.00 price target on its shares.

IDP Education Ltd (ASX: IEL)

Another ASX share to look at is IDP Education. It is a provider of international student placement services and English language testing services. While the company has been hit hard by the pandemic, it is expected to come out of the crisis in a stronger position and win further market share. It has also been tipped to resume its rapid growth once trading conditions return to normal. Last week, UBS put a buy rating and $28.25 price target on its shares.

Kogan.com Ltd (ASX: KGN)

Kogan is an ecommerce company which has been benefitting greatly from the shift to online shopping. And while inventory issues have brought its earnings growth to an abrupt end recently, this is only expected to be a short term headwind. After which, Kogan and its acquired Mighty Ape business appear well-placed to benefit from the structural shift online. Credit Suisse has an outperform rating and $17.93 price target on its shares.

James Mickleboro does not own any shares mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd, Cochlear Ltd., Idp Education Pty Ltd, and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd and Kogan.com 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.

More on Growth Shares

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

Here are the top five ASX 200 shares in Macquarie's model growth portfolio

These ASX 200 shares are highly rated by analysts at Macquarie.

Read more »

a man with a wide, eager smile on his face holds up three fingers.
Growth Shares

3 ASX shares to buy in 2024 and hold for the next 10 years

Analysts think these top shares are in the buy zone right now.

Read more »

A man leans forward over his phone in his hands with a satisfied smirk on his face although he has just learned something pleasing or received some satisfying news.
Growth Shares

4 ASX growth shares I think will benefit from interest rate cuts in 2024

Not only will home loan holders rejoice, investors of these stocks could also be yelling with joy when the Reserve…

Read more »

A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.
Growth Shares

3 of the best ASX growth shares to buy now

Analysts see plenty of upside for these buy-rated shares.

Read more »

A man and woman in an office look at a laptop and discuss investing, budget strategies or other financial concepts
Growth Shares

Here's why analysts love these buy-rated ASX 200 growth shares

There's a reason analysts are feeling bullish about these companies.

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Growth Shares

Big returns could be coming for high-flying Lovisa shares

Morgans doesn't believe it is too late to snap up this hot stock.

Read more »

Smiling young parents with their daughter dream of success.
Growth Shares

Why these ASX 200 growth shares could be top buys now

Analysts are feeling bullish about these growth stocks. Let’s see what they’re saying.

Read more »

Concept image of a man in a suit with his chest on fire.
Growth Shares

Ignore the noise and buy this hot ASX growth stock

A recent pullback may have created a buying opportunity according to Bell Potter.

Read more »