If you are lucky enough to have $10,000 burning a hole in your pocket, then it could be worth putting it to work in the share market.
But which ASX shares would be good options for this sort of investment when the market reopens? Let's take at a look at three picks for investors to consider:
CSL Ltd (ASX: CSL)
The first ASX share that could be a top option for a $10,000 investment is biotherapeutics giant CSL.
Analysts at Bell Potter remains very positive on the company due to its attractive valuation and positive earnings growth outlook. It said:
CSL presents an attractive buying opportunity as we anticipate the start of a margin recovery phase for CSL, driving above-market earnings growth over the next few years. CSL trades at a 12-month forward PE of ~31x, representing a discount to its 5 year average of ~35x. Furthermore, the company will continue to deleverage the balance sheet over the next few years. Given the company's proven quality and growth prospects, we believe significant upside remains.
The broker has a buy rating and $316.50 price target on its shares. It is also worth noting that analysts at Macquarie believe CSL's shares could rise beyond $500 in the coming years if it delivers on its expectations.
Megaport Ltd (ASX: MP1)
Another ASX share that could be a quality pick for investors next week is Megaport. It is a network as a service provider that has been growing at a rapid rate for a number of years.
Goldman Sachs believes that a pullback last month has created a buying opportunity for investors. Particularly given its significant long-term growth runway. It commented:
[W]e remain confident MP1 has a clear product advantage vs. peers and a decade-long runway for robust growth. Despite the soft operational trends in recent periods, we expect still robust top-line growth, with the increased focus on profitable growth supporting an attractive earnings profile over FY24-26.
Goldman Sachs has a buy rating and $12.00 price target on its shares.
Origin Energy Ltd (ASX: ORG)
A third ASX share that could be a top option for a $10,000 investment is Origin Energy.
That's the view of analysts at Goldman Sachs, which are also feeling positive about this energy giant.
Goldman likes Origin for a number of reasons. This includes its APLNG business, attractive yields, and investment in Octopus. It explains:
We expect electricity markets will remain volatile where ~50% of FY25E EBITDA from APLNG should reduce risk, while supporting a strong 6% dividend yield. […] ORG operates the National Electricity Market's (NEM) largest gas generation fleet at 3 GW which will become increasingly important to firm renewable generation, while maintaining a A$10/GJ cost of gas supply which should support margin expansion or market share gain. […] Octopus' valuation has already increased 600% since ORG's initial investment in 2020, which we expect could continue to grow over 20% in FY25 as contracted Kraken accounts growth drives 30% EBITDA growth.
The broker has a buy rating and $10.75 price target on the company's shares.
