If you’re planning to invest your money into the Australian share market, then one of the shares listed below could be worth considering whether you’re looking for growth, income, or value.
Here’s why I think these shares are in the buy zone:
Lendlease Group (ASX: LLC)
I think this international property and infrastructure company could be a top option for income investors. Although it has just released its unaudited results for FY 2020 and revealed a sharp decline in profit, I’m confident that the worst is now behind the company. In light of this, I think investors should focus on its long term outlook, which looks very positive thanks to its burgeoning global development pipeline. One broker that is positive on the company is Goldman Sachs. It recently declared its shares as a buy and forecast a 57 cents per share dividend next year. Based on the current Lendlease share price, this equates to a 4.8% dividend yield.
Telstra Corporation Ltd (ASX: TLS)
This telco giant could be a good option for value investors. At approximately 20x estimated full year earnings, I think Telstra’s shares are trading at an attractive level. Especially given its improving outlook and generous dividend yield. In respect to its outlook, I believe a return to growth could be on the cards in the near future thanks to its T22 strategy and the easing NBN headwind. In the meantime, I’m confident its 16 cents per share fully franked dividend is sustainable for the foreseeable future. Based on the latest Telstra share price, this works out to be a generous 4.7% dividend yield.
Xero Limited (ASX: XRO)
Finally, if you’re a growth investor, you might want to consider buying this cloud-based business and accounting software provider. I believe Xero is one of the best growth shares on the ASX and capable of generating very strong returns for investors over the 2020s. This is thanks to its high quality and sticky platform, high retention ratio, and massive global market opportunity. Combined, I expect them to result in strong earnings growth in the coming years.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
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- Why brokers have just downgraded BHP and these ASX stocks today
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- Where to invest $1,000 in ASX tech shares today
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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