Top Australian shares to buy now for long-term growth

Analysts think these buy-rated shares could be well-positioned for long term growth.

| More on:
A fresh-faced young woman holds an Australian flag aloft above her head as she smiles widely on a beach as though celebrating a national day or event where Australia has been successful.

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

For investors looking to buy and hold quality Australian shares for the long term, analysts have recently highlighted a few top options.

Let's take a look at what they are saying about these shares and how much they think they are worth. They are as follows:

HMC Capital Ltd (ASX: HMC)

The first Australian share to look at is alternative asset manager HMC Capital. The company currently manages $18.5 billion in funds under management (FUM), but analysts at Bell Potter believe this could grow significantly in the coming years.

The broker sees the company as being in a strong position after a period of major transformation, with new platforms established across digital infrastructure, energy transition, and private credit.

While costs have increased in the short term, its analysts believe this places HMC Capital to reach a scale that could allow it to hit its long-term FUM target of $50 billion by FY 2030.

Bell Potter has a buy rating and a $12.90 price target on HMC Capital's shares.

Megaport Ltd (ASX: MP1)

Another Australian share that analysts see as a great long-term option is Megaport. It is a global leader in elastic interconnection services, which allow businesses to connect to major cloud providers easily and efficiently.

Megaport has been riding the wave of cloud computing and artificial intelligence (AI) adoption, and analysts at Morgans expect this growth to continue.

The broker highlights Megaport's position as the leading Network as a Service provider, with operations in countless data centres worldwide. It thinks that this leaves it well-placed to benefit from the increasing need for global data movement driven by AI and cloud computing growth.

The broker currently has an add rating and $14.00 price target on the tech stock.

Temple & Webster Group Ltd (ASX: TPW)

Finally, analysts at Citi have named Temple & Webster as a top Australian share to buy.

The country's leading online furniture and homewares retailer has been benefitting greatly from the structural shift towards e-commerce.

Despite stellar growth in recent years, Temple & Webster still appears to have plenty of room left to expand, particularly as Australia's online penetration in this category remains lower than in other Western markets.

Citi's analysts also see artificial intelligence playing a role in boosting the company's profitability, with expectations that AI-driven efficiencies could help Temple & Webster achieve its long term 15% EBITDA margin target. This compares to its FY 2025 margin guidance range of 1% to 3%.

Citi has a buy rating and $21.10 price target on Temple & Webster's shares.

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Megaport and Temple & Webster Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended HMC Capital, Megaport, and Temple & Webster Group. The Motley Fool Australia has recommended HMC Capital and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

A smiling woman holds a Facebook like sign above her head.
Growth Shares

3 ASX growth shares I'd buy for the next 10 years

Let's see why these shares could be top picks for the long term.

Read more »

wheelchair user in an office talking on mobile phone
Growth Shares

Why I'd buy this ASX growth share instantly

I’m calling on this stock to deliver strong returns.

Read more »

A happy boy with his dad dabs like a hero while his father checks his phone.
Growth Shares

2 ASX growth shares to buy in June: experts

These businesses have strong growth potential.

Read more »

Rocket powering up and symbolising a rising share price.
Growth Shares

Buy these stellar ASX growth shares with $1,000

Analysts think these shares would be top buys right now.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Growth Shares

These ASX growth shares could rise 18% to 30%

Let's see which shares are being tipped to rocket.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Growth Shares

Goldman Sachs tips this ASX 200 growth stock to rise 35%

Let's see what the broker is saying about this growing company.

Read more »

Two players on a field pump their fists in the air, indicating two of the best
Growth Shares

The ultimate ASX growth shares to buy with $5,000

Brokers are very bullish on these names. But why? Let's find out.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Growth Shares

Where to invest $1,000 into ASX shares in June

These shares could be buys according to analysts.

Read more »