If you are looking to invest $5,000 of your hard-earned money into ASX stocks next month, then it could be worth checking out the five shares named below.
They are all quality companies from different sides of the market and have been tipped as buys by brokers. Here's what you need to know about them:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX stock that could be a buy in December is Aristocrat Leisure. It is one of the world's leading gaming technology companies with a portfolio of poker machines, digital games, and a fledgling real money gaming business.
The team at Citi remains very positive on the company. So much so, this month it put a buy rating and $74.00 price target on its shares.
Capricorn Metals Ltd (ASX: CMM)
The team at Bell Potter thinks that this gold miner could be a great option for investors. This is because it "is a sector leading gold producer with a strong balance sheet, a management team with an excellent track record of delivery and clear organic growth options."
Bell Potter currently has a buy rating and $7.54 price target on its shares.
CSL Ltd (ASX: CSL)
CSL could be a great option for investors in December. It is arguably one of Australia's highest quality companies. And while the biotech giant's shares have underperformed over the past couple of years, Bell Potter thinks this is about to change. It is forecasting double-digit earnings growth for foreseeable future.
The broker has a buy rating and $345.00 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
Another ASX stock to look at is Temple & Webster. It is Australia's leading online furniture and homewares retailer.
The company has been growing strongly in recent years thanks to the structural shift online. But the good news is that this shift is still in its early stages in this category compared to other Western markets. This nodes well for the future.
Macquarie is a fan of Temple & Webster and believes there's still a lot more growth to come. It has just put an outperform rating and $13.55 price target on its shares.
Xero Ltd (ASX: XRO)
A final ASX stock that could be a buy is Xero. It is a cloud accounting platform provider with an estimated market opportunity of over 100 million small to medium sized businesses globally. This makes its current subscriber base of approximately 4.2 million look tiny.
Goldman Sachs believes this provides Xero with a huge growth runway. Its analysts have a conviction buy rating and $201.00 price target on its shares.
