If you have room in your portfolio for some new additions in May, then read on.
That's because listed below are ten ASX shares that have all been tipped as top buys by analysts. They are as follows:
Image Source: Getty Images
CSL Ltd (ASX: CSL)
The first ASX share for investors to look at is CSL. It is the biotechnology giant behind the CSL Behring, CSL Vifor, and CSL Seqirus businesses. These are leaders in their field and home to world-class plasma therapies, iron deficiency and nephrology treatments, and vaccines.
UBS currently has a buy rating and a $330.00 price target on CSL's shares.
Flight Centre Travel Group Ltd (ASX: FLT)
Another ASX share that could be a buy is Flight Centre. It is of course a travel agent giant with operations across the world.
Morgans sees a lot of value in its shares at current levels. It has an add rating and a $27.27 price target on its shares.
Goodman Group (ASX: GMG)
This integrated industrial property company's shares could be another top option for investors in May. Especially given its positive outlook thanks to the insatiable demand for industrial property.
Macquarie is a fan of the company and believes its strong growth can continue. As a result, it has put an outperform rating and $34.84 price target on its shares.
IDP Education Ltd (ASX: IEL)
Goldman Sachs thinks that recent (significant) weakness has created a buying opportunity for investors.
The broker currently has a buy rating and lofty $25.30 price target on its shares.
Nextdc Ltd (ASX: NXT)
Another ASX share that could be a great option in May is data centre operator NextDC. A number of brokers are feeling very bullish on the company right now thanks to the artificial intelligence boom, which is driving increasing demand for data centre capacity.
One of those is UBS with a buy rating and a $20.10 price target on its shares.
Qantas Airways Limited (ASX: QAN)
Goldman Sachs thinks that this airline operator's shares are extremely undervalued at current levels. Particularly given its structurally stronger earnings following the post-COVID transformation of its business.
The broker has a buy rating and a $8.05 price target on its shares.
ResMed Inc (ASX: RMD)
This sleep disorder treatment company could be another ASX share to buy in May according to analysts at Macquarie.
They believe its shares are good value and have an outperform rating and $34.30 on them. It is also worth noting that the broker has not yet updated its financial model and recommendation to reflect ResMed's stronger-than-expected quarterly update last week.
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX share that could be a buy next month is wine giant Treasury Wine. It was recently given a big boost from the removal of tariffs in China.
This news went down well with analysts at UBS. In response, the broker has put a buy rating and $15.25 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
If you're looking for exposure to the retail sector, then Morgans thinks this youth fashion retailer could be the one to buy.
Its analysts currently have the company on their best ideas list with an add rating and a $6.50 price target. The broker also expects 4.5%+ dividend yields this year and next.
Xero Ltd (ASX: XRO)
Finally, this cloud accounting platform provider could be an ASX share to buy in May.
That's the view of analysts at Goldman Sachs, which are so bullish they have the company on their Asia-Pacific conviction list. The broker has a buy rating and a $152.00 price target on its shares.
