3 buy-rated ASX shares

Here are three quality ASX shares rated as buys…

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With so many shares to choose from on the Australian share market, it can be hard to decide which ones to buy over others.

To narrow things down, I have picked out three options that are highly rated to consider:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX share to consider this month is this pizza chain giant. It has been tipped to continue its strong growth over the next decade thanks to its bold expansion plans at home and overseas, acquisitions, and its focus on technology. And while food inflation is likely to weigh on its performance in the near term, this is only expected to be temporary. Which could mean the recent weakness in the Domino’s share price is a buying opportunity for long-term focused investors.

Goldman Sachs is positive on Domino’s. It currently has a buy rating and $147.00 price target on the pizza chain operator’s shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with over 30,000 trusted tradies. Hipages has been growing at a rapid rate over the last couple of years and looks well-placed to continue this strong form as it builds out its ecosystem. This will be supported by the recent acquisition of New Zealand rival Builderscrack, which gives Hipages access to a NZ$26 billion total addressable market and 4,000 active tradies.

Goldman Sachs is very bullish on Hipages. It currently has a buy rating and $5.15 price target on its shares.

ResMed Inc. (ASX: RMD)

A final ASX share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market. ResMed has been a very strong performer over the last decade, generating mouth-watering returns for investors. The good news is that the next decade looks positive. This is thanks to its world class products, significant market opportunity, and the growing prevalence of sleep disorders. Its near term performance is also being boosted by a major product recall (5.2m CPAP devices) from Philips.

Morgans is positive on the company and has an add rating and $40.80 price target on ResMed’s shares.

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 and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Hipages Group Holdings Ltd., and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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