Looking to take advantage of compounding by making buy and hold investments?
If you are, then it could be worth considering the three Australian stocks listed below. Here's what analysts are saying about them:
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CSL Limited (ASX: CSL)
Arguably one of the best Australian stocks to buy and hold right now could be CSL.
It is one of the world's leading biotechnology companies and home to the CSL Behring, CSL Vifor, and CSL Seqirus businesses.
CSL has been growing at a solid rate for many years. The good news is that it appears well-positioned for further growth in the coming years. This is due to its world class product portfolio, strong demand for immunoglobulins, and its ongoing investment in research and development.
In respect to the latter, the company reinvests in the region of 11% of sales back into research and development each year. This ensures that CSL has a development pipeline filled to the brim with potentially lucrative and life-saving products.
Macquarie is a big fan of the company. Its analysts currently have an outperform rating and $330.00 price target on its shares. In addition, the broker sees scope for CSL's shares to rise beyond $500.00 in the coming years thanks to its positive growth outlook.
Nextdc Ltd (ASX: NXT)
Another Australian stock to consider as a buy and hold option is NextDC.
It is one of the region's leading data centre operators with a growing network of centres in key locations.
Morgans believes that the company is well-placed for growth in the coming years thanks to the cloud computing boom. In fact, it thinks that NextDC's EBITDA could double based on existing agreements.
The broker has an add rating and $20.50 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Finally, another Australian stock that could be worth holding onto for the long term is Treasury Wine. It is one of the world's largest wine companies and the owner of brands such as Penfolds, 19 Crimes, Blossom Hill, and Wolf Blass.
Treasury Wine appears positioned for solid growth over the next decade thanks to recent acquisitions, its strong luxury wine portfolio, and the reopening of the China market.
Goldman Sachs expects this to be the case and notes that its "buy rating on TWE is premised on accelerating double-digit EPS growth in FY24-27e."
The broker has a buy rating and $15.20 price target on its shares.
