3 buy-rated ASX shares

Here are three quality ASX shares rated as buys…

| More on:
stack of wooden blocks with '1, 2, 3' written on them

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

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.

More on Growth Shares

Confident male Macquarie Group executive dressed in a dark blue suit leans against a doorway with his arms crossed in the corporate office
Growth Shares

Analysts name 2 ASX growth shares to buy this week

These growth shares could be buys according to analysts...

Read more »

A happy businessman pointing up, inidicating a rise in share price
Growth Shares

Analysts name 3 buy-rated ASX growth shares for July

Here are three growth shares that could be in the buy zone in July...

Read more »

A man with a yellow background makes an annoncement, indicating share price changes on the ASX
Growth Shares

Experts say these ASX 200 growth shares are buys with 20%+ upside

These growth shares could be buys according to experts...

Read more »

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

3 excellent ASX growth shares that analysts are excited about

Analysts rate these growth shares very highly...

Read more »

A happy woman raises her face in celebration, indicating positive share price movement on the ASX
Growth Shares

Analysts say these ASX growth shares have huge upside potential

These growth shares could have heaps of upside...

Read more »

a graph indicating escalating results

Where to find value in growth? Here are 2 ASX shares I’d buy in July

Both of these ASX shares could achieve good things in the future.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

Analysts tip big returns from these ASX growth shares

Here are two ASX growth shares analysts expect big returns from...

Read more »

happy investor, share price rise, increase, up
Growth Shares

Here’s why brokers rate these ASX growth shares as buys

Here's why these growth shares could be buys next week...

Read more »