2 top ASX shares to buy and hold for a decade

Are these the shares to buy and hold?

| More on:
asx shares to buy and hold represented by man happily hugging himself

Image source: Getty Images

As I mentioned here yesterday, it is possible for investors to generate significant wealth by making long term investments in quality companies.

But which shares could be top buy and hold options right now? Here are two that analysts rate highly:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

When looking for buy and hold shares, it always helps if you understand what a company’s long term plans are.

The good thing with this pizza chain operator is that management lays out its plans for all to see. This means investors have a clear understanding of where the company is heading over the next decade.

For example, at the end of FY 2021, Domino’s store network comprised 2,949 stores across the ANZ, European, and Asian markets. Whereas by 2033, management is aiming to more than double this to 6,650 stores.

In addition, the company’s strong balance sheet means that management is on the lookout for acquisitions. This could see Domino’s enter new markets in the future, giving it an opportunity to increase its network even further.

Goldman Sachs is a fan of Domino’s. Its analysts currently have a buy rating and $147.00 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX share that could be a quality buy and hold option is Hipages. It is an Australia-based online platform and software as a service (SaaS) provider with a focus on connecting tradies with residential and commercial customers.

At present, the company captures around 5% of total industry advertising spend. However, Goldman sees scope for this to grow materially in the future as its ecosystem builds out.

Goldman Sachs recently explained: “We see HPG as an attractive medium-term growth stock – HPG currently captures c.5% of the total industry advertising spend; by contrast REA/CAR capture c.40-60% of spending in their respective categories. As HPG builds out its ecosystem (including the imminent launch of the new “TradieCore” field service software solution), we see scope for HPG to increase its share towards these levels over the long term as the marketplace leader.”

The broker has a buy rating and $4.90 price target on Hipages’ shares.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on How to invest