If you're looking to make some additions to your portfolio in January, then the three ASX shares listed below could be great options.
They have been tipped as shares that could generate strong returns for investors in the future.
Here's why they could be five-star stocks:
CSL Limited (ASX: CSL)
This biotherapeutics giant could be a five star stock. This is due to the quality of its CSL Behring and Seqirus businesses, their leading therapies and vaccines, its growing plasma collection network, and burgeoning research and development pipeline. In respect to the latter, CSL's pipeline contains a number of products, such as Clazakizumab, that have the potential to generate billions of dollars of sales in the future. UBS is a fan of the company and last week reiterated its buy rating and $346.00 price target on CSL's shares.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another potential five-star stock is Domino's. This is due to the pizza chain operator's strong market position and bold growth targets over the next decade. At the end of FY 2020, Domino's had a network of 2,668 stores and is now aiming to more than double this to 5,500 stores by 2033. At the same time, the company is targeting organic same store sales growth of 3% to 6% per annum over the medium. Delivering on these targets would result in strong top line growth over the 2020s. One broker that is a fan of these plans is Goldman Sachs. The broker has a conviction buy rating and $88.00 price target on its shares.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
A final potential five-star option is the BetaShares NASDAQ 100 ETF. This is due to the fact that this fund is home to a large number of the highest quality companies that the world has to offer. Among its holdings you will find the likes of Amazon, Apple, Facebook, Microsoft, Nvidia, Starbucks, and Tesla, to name just a few. This group of shares have been tipped to grow strongly in the future and could help drive outsized returns for the BetaShares NASDAQ 100 ETF.
