Where to invest $3,000 on the ASX in December

Analysts are tipping these shares as top picks this month. Let's see why.

| More on:
Three happy office workers cheer as they read about good financial news on a laptop.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

If you are lucky enough to have $3,000 to invest in ASX shares in December, then take a look at the three named below.

They have been tipped as buys by analysts this month. Here's what you need to know about them:

GQG Partners Inc (ASX: GQG)

Goldman Sachs thinks that this fund manager's shares have been oversold and are great value now.

Commenting on its buy recommendation, the broker said:

GQG is a global asset manager with an active equity focus. We are Buy rated on GQG because: 1) Net flow trajectory has been very strong 2) Strong performance has resulted in performance fees becoming increasingly more material 3) Medium and long term relative performance strong 4) Attractive valuation vs. peers in context of very strong earnings growth. 5) Impacts from Adani appear manageable.

Goldman has a buy rating and $2.80 price target on the ASX share.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Bell Potter think that lithium miner Pilbara Minerals could be a good destination for your funds.

This week, the broker upgraded the company's shares on valuation grounds and on the belief that the lithium market is heading into a supply deficit in 2026. It said:

We upgrade our PLS recommendation to Buy (from Hold) on recent share price weakness. […] We calculate that recent supply curtailments from Australian producers (including PLS) have removed around 50kt of Lithium Carbonate Equivalent from the market (around 4% of 2024 supply). On our supply-demand modelling, the cuts result in a smaller market surplus in 2025 and brings forward our estimate of a market deficit to 2026 (previously 2027).

Bell Potter has put a buy rating and $2.70 price target on its shares.

Pro Medicus Limited (ASX: PME)

Goldman Sachs also thinks that this health imaging technology company could be an ASX share to buy now.

Although the broker concedes that Pro Medicus shares are not cheap, it believes they deserve this premium valuation. Especially given its significant long-term growth opportunity. The broker explains:

We remain positive on the PME equity story as one of Australia's best global growth companies. […] PME is not cheap, trading on 114x FY26E EV/EBITDA, but we highlight its revenue/margin outlook, unique cloud offering, and significant long-term opportunity. Additionally, with a focus on the US regulatory outlook, we believe MedTech is increasingly being evaluated as a safe haven within healthcare as it is generally more insulated from impending policy volatility.

Goldman has a buy rating and $278.00 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Pro Medicus. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

A woman sits at her home computer with baby on her lap, and the winning ticket in her hand.
Consumer Staples & Discretionary Shares

How much upside does Macquarie expect for Lottery Corporation shares?

This ASX 200 stock has proven resilient through various economic conditions.

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Broker Notes

Guess which ASX 300 stock was downgraded to sell today

Bell Potter has become bearish on this stock. But why?

Read more »

Young businesswoman sitting in kitchen and working on laptop.
Broker Notes

Is the ResMed share price still cheap? What the numbers say

Let's see what analysts are saying about this blue chip as it nears a 52-week high.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Broker Notes

What does Macquarie think REA shares are worth?

Top broker Macquarie has reviewed its rating and price target on REA shares.

Read more »

Woman checking out new TVs.
Broker Notes

Does JP Morgan think JB Hi-Fi shares can keep rising?

The retailer is up 16% for the year to date.

Read more »

A man in his 30s with a clipped beard sits at his laptop on a desk with one finger to the side of his face and his chin resting on his thumb as he looks concerned while staring at his computer screen.
Broker Notes

Should you buy CBA, Telstra, and Wesfarmers shares?

Let's see what analysts are saying about these blue chips.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Bell Potter just slapped a buy on this ASX 200 share offering a 30% return

Which stock is being tipped as a buy? Let's find out.

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Broker Notes

3 of the best ASX stocks to buy now with $2,500

These shares are highly rated by the team at Bell Potter.

Read more »