Computing company Apple Inc (NASDAQ: AAPL) has done pretty well for investors over the decades.
The technology provider, especially in the last 15 years, has captured the imagination of the public with innovative, stylish and desirable consumer products.
And in that time the shares have turned into an amazing 27-bagger for its investors.
Apple is now the world's biggest company when measured by market capitalisation.
That's all well and good, but can you find a reliable stock like that on the ASX?
The team at Market Matters certainly thinks you can.
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Unanimous backing from fund managers
Even though CSL Limited (ASX: CSL) still has not returned its share price to its pre-COVID high — or perhaps because of it — the biotechnology behemoth is popular among professional investors.
According to CMC Markets, all 11 analysts who cover the stock are recommending it as a buy.
Heading into the end of the financial year, this support will help CSL hold its value, Market Matters analysts said in a memo to clients.
"There aren't many fund managers who aren't long CSL, hence we believe selling is likely to take a back seat as EOFY returns become paramount for the heavy-hitting investors."
The team noted that UBS this month put on a buy recommendation with a $350 share price target.
That's a 14% upside in pretty quick time, "driven by tailwinds across all divisions".
"That should see sales produce a compound annual growth rate (CAGR) of 13% over the next five years."
This is why the Market Matters team is "long and bullish" for CSL.
"We can see CSL popping 5% to 10% higher if the ASX doesn't get hit by surprising external factors," read the memo.
"Like Apple Inc, [it's] a quality business… successfully navigating higher interest rates."
Bell Potter is also a fan, calling CSL "a leading global company" in a recent recommendation to clients.
"The recently completed acquisition of Vifor Pharma will add global leadership in pharmaceutical products for renal disease and iron deficiency," read the note.
"The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive research and development portfolio."
The CSL share price has gained close to 9.2% year to date.
