2 beaten down ASX shares named as buys by experts

Woman smashes dollar sign for dividend share investment

Woman smashes dollar sign for dividend share investment

A number of shares have been beaten down this year following the mini market crash.

While this is disappointing, it could have created a buying opportunity for investors once the volatility ends. Here’s why these ASX shares could be top options:

Altium Limited (ASX: ALU)

The first beaten down ASX share for investors to look at is Altium. It is the electronic design software provider behind the Altium 365 and Altium Designer platforms, the Nexus collaboration platform, and the Octopart search engine.

The Altium share price is down 37% since the start of the year. This could be a buying opportunity according to analysts at Bell Potter. They currently have a buy rating and $34.00 price target on Altium’s shares. This implies potential upside of 21% for investors over the next 12 months.

Bell Potter’s analysts believe Altium is “on track to achieve its FY22 guidance and expect much better subscriber growth in 2HFY22 relative to 1HFY22.”

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another beaten down ASX share to look at is Domino’s. It is one of the world’s largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions.

Its shares have fared even worse than Altium’s in 2022 and are down 46% since the turn of the year. Morgans believes this weakness is a buying opportunity and recently put an add rating and $93.00 price target on its shares. This implies potential upside of 40% for investors between now and this time next year.

Morgans remains positive on the company due to its store rollout plan, which it notes is “the engine of DMP’s growth.” And while near term trading conditions may be tough, the broker believes “the medium-term opportunity is absolutely undiminished.”

The post 2 beaten down ASX shares named as buys by experts appeared first on The Motley Fool Australia.

Should you invest $1,000 in Altium Limited right now?

Before you consider Altium Limited, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Altium Limited wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

See The 5 Stocks
*Returns as of June 1 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/VgJBc8T

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s