Are you interested in adding some ASX shares to your portfolio in June?
Four ASX shares that could be worth considering this month are listed below. Here's what you need to know about them:
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Appen Ltd (ASX: APX)
Appen has a team of over one million crowd sourced experts preparing the data that goes into artificial intelligence (AI) and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. And although demand has softened during the pandemic, it is expected to rebound once the crisis passes. Especially given how spending on AI is forecast to grow materially over the next decade. Ord Minnett currently has a buy rating and $24.75 price target on its shares.
Cochlear Limited (ASX: COH)
Cochlear is one of the world's leading hearing solutions companies. It has a long track record of delivering solid earnings growth thanks to its world class portfolio of products, ageing populations, and its high level of investment in research and development. Positively, all these drivers remain in place today, which appears to have put Cochlear in a position to continue its growth over the next decade. Macquarie has an outperform rating and $245.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
Another ASX share to look at is IDP Education. It is a provider of international student placement services and English language testing services. While the company has been hit hard by the pandemic, it is expected to come out of the crisis in a stronger position and win further market share. It has also been tipped to resume its rapid growth once trading conditions return to normal. Last week, UBS put a buy rating and $28.25 price target on its shares.
Kogan.com Ltd (ASX: KGN)
Kogan is an ecommerce company which has been benefitting greatly from the shift to online shopping. And while inventory issues have brought its earnings growth to an abrupt end recently, this is only expected to be a short term headwind. After which, Kogan and its acquired Mighty Ape business appear well-placed to benefit from the structural shift online. Credit Suisse has an outperform rating and $17.93 price target on its shares.
