Are you interested in adding some more ASX shares to your portfolio?
Three 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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Altium Limited (ASX: ALU)
The first ASX share to look at is Altium. It is an award-winning printed circuit board (PCB) design software provider. It could be worth considering due to its leading position in a market exposed to the Internet of Things and artificial intelligence booms. The proliferation of electronic devices is expected to lead to increasing demand for its software over the next decade.
This morning Citi upgraded its shares to a buy rating with a $35.40 price target. This compares to the latest Altium share price of $29.95
Appen Ltd (ASX: APX)
Another ASX share to consider is Appen. It has a million-plus team of crowd sourced experts preparing the data that goes into artificial intelligence and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. While demand has been subdued recently and led to Appen falling short of expectations in the first half of FY 2021, it has been tipped to bounce back strongly. Especially given how the artificial intelligence and machine learning markets are forecast to grow materially in the future.
Citi remains positive on the company. It has a buy rating and $18.80 price target on its shares. This compares very favourably to the current Appen share price of $10.53.
Cochlear Limited (ASX: COH)
A final ASX share to look at is Cochlear. It is one of the world's leading hearing solutions companies and has a long track record of delivering earnings growth. While the pandemic was weighing on its performance, it has bounced back strongly recently. Looking longer term, the company appears well-placed for growth over the next decade. This is thanks to the ageing populations tailwind and its industry leading products.
Macquarie is very positive on the company's long term outlook. It has an outperform rating and $256.00 price target on its shares. The Cochlear share price is currently fetching $231.30.
