There are a lot of quality options for investors to choose from on the Australian share market.
Five that could be great buy and hold investments according to analysts are listed below. Here's what you need to know about them:
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CSL Ltd (ASX: CSL)
The first Australian share that could be a great buy and hold option is CSL. It is a biotherapeutics giant with a collection of world class businesses. This includes the jewel in the crown – the CSL Behring plasma therapies business. It is largely because of this business that Macquarie is forecasting mid-teen earnings growth from CSL for the next five years. Macquarie has an outperform rating and $330.00 price target on the ASX share. It also suggested that its shares could rise to $500 within three years.
Goodman Group (ASX: GMG)
Another Australian share to look at is Goodman Group. It is a leading integrated commercial and industrial property company. The team at Citi is feeling very positive about the company and believes it is one of the best picks in the Asian region. This is thanks to its strong growth outlook due partly to its warehouse and data centre developments. Citi has a buy rating and $40.00 price target on Goodman's shares.
Lovisa Holdings Ltd (ASX: LOV)
This fashion jewellery retailer could be a top Australian share to buy right now. The main reason for this is the company's bold global expansion, which is expected to underpin strong earnings growth over the next decade and beyond. Analysts at Morgans are feeling very positive about the company's outlook. So much so, last week the broker reaffirmed its add rating and lifted its price target to $37.00.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie think that this sleep disorder treatment focused medical device company could be an Australian share to buy when the market reopens. The broker is feeling positive about its results next month and remains bullish on the future. Particularly given its belief that device growth can remain solid for the next decade even after factoring in the emergence of weight loss wonder drugs. Last week, the broker put an add rating and $35.40 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Finally, a fifth Australian share for investors to consider buying for the long term is Treasury Wine It is the wine giant behind popular brands such as Penfolds, Wolf Blass, and Blossom Hill. In addition, the company recently bolstered its portfolio with the major acquisition of US-based DAOU Vineyards. Analysts at Morgans were pleased with the deal. They note that "the acquisition is in line with TWE's premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio." Morgans has an add rating and $15.03 price target on its shares.
