In this piece, we will take a look at the five best long term ASX stocks to invest in. To learn all the details about the ASX’s performance this year, check out 10 Best Long Term ASX Stocks To Invest In.
5. Woolworths Group Limited (ASX:WOW.AX)
Average Analyst Share Price Target: A$36.03
Percentage Upside: 8.62%
Woolworths Group Limited (ASX:WOW.AX) is a sizeable Australian grocery retailer with more than two hundred thousand employees. It is headquartered in Bella Vista, Australia, and has stores in Australia and New Zealand. Woolworths Group Limited (ASX:WOW.AX) is also a dividend paying stock, and its latest dividend sits at A$0.47. The shares are rated Buy on average, and the average analyst share price target is A$36.03, pricing in an 8.62% upside to the share price.
4. Computershare Limited (ASX:CPU.AX)
Average Analyst Share Price Target: A$36.03
Percentage Upside: 8.62%
Computershare Limited (ASX:CPU.AX) is a financial services company headquartered in Abbotsford, Australia. A diversified company, the firm allows corporations to maintain their records, govern companies, and manage relationships with stakeholders. Additionally, Computershare Limited (ASX:CPU.AX) also provides mortgage and rent management services to landlords. It is also among the handful of Australian companies on our list that has a well established global presence with operations in the U.S., Canada, and other countries.
3. BHP Group Limited (NYSE:BHP)
Average Analyst Share Price Target: $64.25
Percentage Upside: 11.37%
BHP Group Limited (NYSE:BHP) is one of the biggest and most consequential mining firms in the world. With close to fifty thousand employees, its operations cover Australia, Asia, North America, and other regions. The shares are rated Buy on average, and the average share price target is $64.25.
By the end of Q4 2023, 24 out of the 933 hedge funds profiled by Insider Monkey had bought BHP Group Limited (NYSE:BHP)’s shares. Ken Fisher’s Fisher Asset Management was the biggest investor due to its $1.3 billion investment.
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2. Aristocrat Leisure Limited (ASX:ALL.AX)
Average Analyst Share Price Target: A$48.05
Percentage Upside: 11.74%
Aristocrat Leisure Limited (ASX:ALL.AX) is a mid sized Australian gambling company headquartered in North Ryde, New South Wales. It primarily caters to the needs of casinos and provides them with products such as gaming machines and management systems. The shares are rated Buy on average, and the average share price target is A$48.05. Another Australian stock with a global presence, Aristocrat Leisure Limited (ASX:ALL.AX) shared in January 2024 that it has managed to gain a foothold into the Canadian gambling market.
1. Telstra Group Limited (ASX:TLS.AX)
Average Analyst Share Price Target: A$4.38
Percentage Upside: 13.47%
Telstra Group Limited (ASX:TLS.AX) is a major Australian telecommunications company headquartered in Melbourne, Victoria. A diversified company, it provides services to both ordinary customers and telecommunications carriers. The shares are rated Buy on average, and the average analyst share price target is A$4.38.
Should you invest $1,000 in Telstra right now?
Before you buy stock in TLS, consider this:
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Disclosure: None. You can also take a look at the 10 NASDAQ Stocks with Biggest Upside and 16 Best Passive Income Stocks To Buy According to Hedge Funds.
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