5 top ASX stocks to buy in May

A new month is here, and with it comes a fresh opportunity to reassess your portfolio and consider adding some high-quality ASX stocks.

Whether you're topping up existing positions or looking for new ideas, here are five stocks that analysts think could be worth buying this month. They are as follows:

Cochlear Ltd (ASX: COH)

The first ASX stock is Cochlear. It is a global leader in implantable hearing devices, helping people with hearing loss around the world. It has a strong track record of innovation, clinical trust, and long-term growth — making it one of Australia's most respected healthcare stocks.

Citi has a buy rating and $300.00 price target on its shares.

James Hardie Industries plc (ASX: JHX)

Another ASX stock to look at is James Hardie. It is a leading global manufacturer of fibre cement building materials, with a dominant position in the US housing market. It is a play on construction, renovation, and long-term demand for durable, energy-efficient homes.

Bell Potter is bullish and has put a buy rating and $63.00 price target on its shares.

Lovisa Holdings Ltd (ASX: LOV)

Lovisa is a fast-growing international retailer of affordable fashion jewellery. With stores across Australia, the US, Europe, and Asia, it is expanding rapidly and tapping into a huge global customer base that is seeking trend-driven accessories at accessible price points.

The team at Morgan Stanley has an overweight rating and $31.50 price target on Lovisa's shares.

Temple & Webster Group Ltd (ASX: TPW)

A fourth ASX stock that analysts rate as a buy is Temple & Webster. It is an online retailer specialising in furniture and homewares. As more and more consumers shift online, Temple & Webster continues to benefit from strong brand recognition, an asset-light model, and rising demand for online interior solutions.

Analysts at Citi are big fans of the company. They have put a buy rating and $21.10 price target on its shares.

Treasury Wine Estates Ltd (ASX: TWE)

Finally, Treasury Wine could be an ASX stock to buy in May. It is a global wine company best known for brands like Penfolds, Blossom Hill, and Wolf Blass. With a strong focus on high-margin products and international expansion, Treasury Wine is well positioned to grow its global footprint.

The team at Goldman Sachs is very positive on the company's outlook. So much so, the broker recently put a buy rating and $12.90 price target on the wine giant's shares.

The post 5 top ASX stocks to buy in May appeared first on The Motley Fool Australia.

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

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