Month: October 2022

Are you looking for dividend shares to buy for when the market reopens?

If you are, you may want to take a look at the two listed below that have been rated as buys by brokers. Here’s what they are saying:

Adairs Ltd (ASX: ADH)

The first ASX dividend share to consider is furniture and homewares retailer, Adairs.

Goldman Sachs is very positive on the company and recently retained its buy rating and $2.65 price target. Its analysts believe the company’s shares have been oversold and created a buying opportunity for investors. It commented:

We view the re-affirmed guidance as a key positive for ADH, and we believe the market is pricing in EBIT that is 11-21% below the guidance range, and 12% below GSe. We view the core Adairs business as resilient in the current environment and do not believe the c.40% discount to discretionary retail peers is justified.

As for dividends, Goldman is forecasting fully franked dividends per share of 17 cents in FY 2023 and 20 cents in FY 2024. Based on the latest Adairs share price of $2.05, this will mean yields of 8.3% and 9.75%, respectively.

Coles Group Ltd (ASX: COL)

Another ASX dividend share for income investors to consider is supermarket giant, Coles.

A note out of Morgans reveals that its analysts are bullish on Coles and have recently put an add rating and $19.50 price target on them. The broker feels its shares are great value at the current level, particularly given its defensive qualities. Morgans commented:

Trading on 20.6x FY23F PE and 4.0% yield, we continue to see COL as offering good value with the company’s solid balance sheet and defensive characteristics putting it in a good position to navigate through a weaker economic environment. The unwinding of local shopping should also help further market share gains.

In respect to dividends, Morgans is forecasting fully franked dividends per share of 64 cents in FY 2023 and 66 cents in FY 2024. Based on the current Coles share price of $16.27, this will mean yields of 3.9% and 4.1%, respectively.

The post Brokers name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia.

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More reading

• Broker says the Coles share price is great value post-Q1 update
• How I’d build a portfolio by investing in top ASX shares now
• Goldman Sachs says these are the ASX dividend shares to buy
• Why Codan, Coles, Medibank, and Pilbara Minerals shares are sinking
• Coles share price struggles despite ‘strengthening sales trajectory’

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 ADAIRS FPO. The Motley Fool Australia has positions in and has recommended ADAIRS FPO and COLESGROUP DEF SET. 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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The AGL Energy Limited (ASX: AGL) share price gained 1.95% in Friday trade, outperforming the S&P/ASX 200 Index (ASX: XJO) which trailed in 0.87% lower at the close.

Shares in the energy and telco giant closed at $6.80 apiece. Earlier in Friday’s session, they fetched a high of $6.92 and a low of $6.66.

The utilities sector was the strongest performer for the day, and the S&P/ASX 200 Utilities Index (ASX: XUJ) finished with a gain of 1.27%.

It might not be surprising to hear then that two of AGL’s peer companies also finished in the green on Friday.

Meridian Energy Ltd (ASX: MEZ) gained a healthy 6.33% and Infratil Ltd (ASX: IFT) ended the day 2.15% higher.

What might be surprising is that there was no news today to spearhead AGL’s price movement. But what we can do is recap some of the company’s recent events to figure out what led to it.

What’s going on with the AGL Energy share price?

AGL received positive coverage from Morgans Investment advisor Jabin Hallihan on 25 October. The broker gave the company a buy recommendation and a price target of $8.81. This suggests a possible 29.5% upside at the time of writing.

More positive sentiment came from AGL board hopeful John Pollaears who described the company as having a “huge, huge upside for shareholders” provided that its transformation plan goes through.

A broker echoed this sentiment at Credit Suisse which gave AGL shares a price target of $8.20.

AGL said it would stop using coal entirely in its strategic review update posted on 29 September. For the company to stop burning coal it will cost around $20 billion and see its emissions drop from 40 million tonnes to net zero.

AGL Energy share price snapshot

The AGL share price is up 10.75% year to date. Meanwhile, the ASX 200 is down 8.84% over the same period.

The company’s market capitalisation is around $4.57 billion.

The post Why did the AGL share price outperform the ASX 200 on Friday? appeared first on The Motley Fool Australia.

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More reading

• Here were the 3 most heavily traded ASX 200 shares on Friday
• Here are the top 10 ASX 200 shares today
• Why AGL, Mirvac, PeopleIn, and SkyCity shares are charging higher
• Why did this ASX All Ordinaries share crash 18% today?
• 3 ASX 200 dividend shares you may have overlooked: Wilsons

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The S&P/ASX 200 Index (ASX: XJO) ended the week with a disappointing fall on Friday. By market close today, the ASX 200 had shed 0.87% of its value, putting it down to 6,785.7 points.

But rather than dwelling on that sad end to the trading week, let’s instead check out the shares that topped the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Pilbara Minerals Ltd (ASX: PLS)

Fist up this Friday was ASX 200 lithium share Pilbara Minerals. A hefty 24.90 million Pilbara shares traded on the ASX today. 

There wasn’t any news from the company itself during this session. However, we still saw a big drop in the value of Pilbara shares. The lithium producer finished up at $4.87 a share, down a nasty 4.70% for the day. It’s this fall that probably elicited so many Pilbara shares finding a new home.   

Core Lithium Ltd (ASX: CXO)

Next up is another lithium company in Core Lithium. Today’s session saw 23.80 million Core Lithium shares exchanged. This company didn’t have any news out today either.

Saying that, we did have the big announcement yesterday, revealing that the supply deal Core Lithium had with Tesla was off, to consider. Combined with Core Lithium’s further 2.90% slide today, this is probably the cause of these elevated volumes we have seen.

BrainChip Holdings Ltd (ASX: BRN)

Our third, final and most traded ASX 200 share is tech company BrainChip. A whopping 43.79 million BrainChip shares changed hands today by the market close. This was almost certainly pushed along by the poorly-received quarterly update the company put out this morning.

As my Fool colleague covered at the time, this revealed the company banked $118,000 in revenue over the quarter in question. Investors weren’t impressed and sent the company down 21.18% to 67 cents a share. No wonder so many shares were flying around.

The post Here were the 3 most heavily traded ASX 200 shares on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Are non-producing ASX lithium companies now way over-priced?
• Why Brainchip, Calix, Fortescue, and ResMed shares are sinking
• Why are ASX 200 tech shares getting bashed around today?
• Why did this ASX All Ordinaries share crash 18% today?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The S&P/ASX 200 Materials Index (ASX: XMJ) fell 4% on Friday, but it wasn’t such a bad day for all ASX mining shares.

The Cobre Ltd (ASX: CBE) share price rocketed 46.7% this morning from 15 to 22 cents before pulling back. The company’s share price finished the day at 18 cents, a 20% jump on Thursday’s closing price.

Let’s take a look at what this ASX mining share reported to the market today.

Cobre share price soars on copper discovery

Cobre discovered a high-grade copper zone at the comet target at the Ngami project. This is located in the Kalahari Copper Belt in Botswana.

Drill hole NCP20A intersected with a 45m zone of visible copper mineralisation.

Visual estimates revealed “significant mineralisation” at the lower 30m of the zone.

This grew in abundance from about 0.6% to 1% chalcocite at the top of the zone to more than 10% chalcocite at the base of the zone.

Cobre said the results prove high-grade zones are present within the comet target. These resemble other known deposits within the Kalahari Copper Belt.

Commenting on the results that boosted the ASX mining share today, executive chairman and managing director Martin Holland said:

Cobre is delighted with the latest copper discovery intersection which has both the
thickness and grade to move the economics on the Comet Target.

Importantly, these results provide further evidence for the team’s current exploration model by demonstrating that high-grade zones of mineralisation occur along this extensive target.

Holland highlighted the company has been “moving rapidly” to drill the potential of this new copper district.

Cobre share price snapshot

Cobre shares have soared 89% in the past year, while they have gained 91% year to date.

For perspective, the ASX 200 Materials Index has gained 1.68% in a year.

This ASX mining share has a market capitalisation of about $36.7 million based on the current share price.

The post Guess which ASX mining share exploded 20% on a new discovery today appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Are non-producing ASX lithium companies now way over-priced?
• Musk finally swoops on Twitter and casts CEO out of the nest. What now?
• Why is the Lake Resources share price sinking 6% today?
• Why is the A2 Milk share price having a better end to the week than the index?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Today saw the S&P/ASX 200 Index (ASX: XJO) break its four-day winning streak following an earnings shocker on Wall Street last night. Australia’s share market barometer — the benchmark index — slipped 0.87% lower to 6,785.7 points.

Leading the market lower on the final day of trade this week were the big names of the materials sector. Of those, Fortescue Metals Group Limited (ASX: FMG) and Mineral Resources Limited (ASX: MIN) were the worst hit, both taking more than 6% worth of skin off their noses amid tumbling iron ore prices.

Similarly, the tech section of the ASX 200 tripped over and went for a roll lower. Investors looked to sell down their holdings in various tech companies after US tech stalwarts Meta Platforms Inc (NASDAQ: META) and Amazon.com Inc (NASDAQ: AMZN) were dealt disastrous blows to their valuations.

With all of those negative vibes, let’s take a refreshing glance at the portion of the ASX that rocked it today.

Top 10 ASX 200 shares countdown

Finishing the week in style, the Qube Holdings Ltd (ASX: QUB) share price took out the top spot as the best-performing share in the ASX 200. This follows the release of the logistic services company’s FY23 trading update and outlook yesterday.

Meanwhile, it appeared to be a positive day for the ‘groups’ of the ASX on Friday — many of which operate in the real estate sector.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Qube Holdings Ltd (ASX: QUB)	$2.69	5.08%
Vicinity Centres (ASX: VCX)	$1.95	4.28%
Ramelius Resources Limited (ASX: RMS)	$0.74	4.23%
Scentre Group (ASX: SCG)	$2.88	3.97%
Lendlease Group (ASX: LLC)	$8.78	3.91%
APA Group (ASX: APA)	$10.42	2.86%
Domino’s Pizza Enterprises Ltd (ASX: DMP)	$62.08	2.73%
Arena REIT (ASX: ARF)	$3.83	2.68%
Home Consortium Ltd (ASX: HMC)	$4.45	2.30%
Mirvac Group (ASX: MGR)	$2.00	2.30%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Why did this ASX All Ordinaries share crash 18% today?
• 3 ASX 200 dividend shares you may have overlooked: Wilsons
• 5 things to watch on the ASX 200 on Friday
• This ASX 200 lithium share was Auscap’s best performer in the last quarter. Here’s why the team expects even more progress
• Here are the top 10 ASX 200 shares today

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler has positions in Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Meta Platforms, Inc. The Motley Fool Australia has positions in and has recommended APA Group. The Motley Fool Australia has recommended Amazon, Dominos Pizza Enterprises Limited, and Meta Platforms, Inc. 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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One of the top five best-performing ASX shares of 2022 is a lithium explorer yet to produce a single gram of the commodity.

But this isn’t unusual. The share market is forward-looking and investors tend to make decisions based on the future prospects of younger companies in hot sectors like lithium mining.

What’s the hottest lithium stock on the market today?

For now, investors are just loving Core Lithium Ltd (ASX: CXO). Its share price is up around 130% in the year to date. Investors are clearly excited about its future.

Like all ASX lithium shares, Core Lithium is benefiting from a record lithium carbonate price. It may not be producing any as yet, but it’s reportedly only months off first production at its Finniss Lithium Project in the Northern Territory.

For now, Wilsons equity strategist Rob Crookston is bullish on lithium shares but sceptical about non-producers.

Crookston writes on Livewire:

We prefer lithium miners, like Allkem Ltd (ASX: AKE), who are currently producing lithium. We are more sceptical about the small-cap non-producers. We believe there is more exuberance in the non-producers, and valuations may have overshot fair value.

While Crookston does not refer to any specific non-producers, you can understand his logic, right?

The price of lithium carbonate hit a new record high this month at US$77,767.49 per tonne. It just keeps on setting new benchmarks as demand for electric vehicles around the world continues to surge.

So, of course, it makes sense that companies who are already getting lithium out of the ground and taking it to market right now are best placed to capitalise on the record commodity price.

Wilsons team likes Allkem best

Allkem is the Wilsons team’s preferred ASX lithium share. Crookston explains:

AKE is one of the world’s top 5 lithium producers, with operations in brine, spodumene, and hydroxide. Business operations are spread across Argentina, Australia, Canada and Japan.

The company has deep brine and hard rock lithium resources and a depth of experience in these fields. AKE brine production is low cost relative to the Western Australia spodumene (hard rock) mines.

We believe consolidation is likely in the pipeline for AKE, one of the biggest players in South America’s ‘Lithium Triangle’. The company could acquire smaller explorers to increase its capacity.

Allkem shares closed on Friday at $14.07, down 2.76% for the day and up 26% in 2022.

What other ASX lithium share does Wilsons back?

Pilbara Minerals Ltd (ASX: PLS) is another lithium favourite of the Wilsons team.

Crookston says:

[Pilbara is a] pureplay lithium miner. Owns 100% of the Pilgangoora hard-rock lithium mine in Western Australia, as well as 18% of a downstream joint venture with POSCO with an option to increase to 30%.

Spodumene production is expected to increase to ~1mt by FY28, up from 360kt in FY22.

While PLS screens attractively on near-term valuation multiples, the company appears to offer less valuation appeal over the medium-term.

Pilbara Minerals shares ended Friday’s session at $4.87 apiece, down 4.7% for the day and up 38% in 2022.

The post Are non-producing ASX lithium companies now way over-priced? appeared first on The Motley Fool Australia.

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More reading

• 5 big ASX announcements making news this week
• If ASX lithium shares are soaring, why is the ACDC ETF down 9% in 2022?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why ‘long-term lithium prices are far too low’: Wilsons
• Why ANZ, Australian Clinical Labs, Core Lithium, and Kogan are sinking today

Motley Fool contributor Bronwyn Allen has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Well, it’s finally happened. Elon Musk, the world’s richest person and head of no less than four companies, has just added a fifth. Yes, Musk has just officially bought Twitter Inc (NYSE: TWTR).

As if being top dog as Tesla Inc (NASDAQ: TSLA), SpaceX, Neuralink and The Boring Company wasn’t enough, Musk has just shelled out US$44 billion ($68 billion) on social media company Twitter. According to reporting in the Australian Financial Review (AFR), he paid US$54.20 a share for the company and will take it private. This means investors will no longer be able to buy Twitter shares on the stock market when the acquisition is finalised.

Of course, this had been in the running for a while now. Musk first signalled his interest in Twitter early this year. But he has spent months wrangling over the deal, including through legal means.

Here’s how Musk broke the news on, well, Twitter:

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

https://platform.twitter.com/widgets.js

He later tweeted that “the bird is freed” and changed his title on the said platform to “Chief Twit”.

In a further tweet titled “Dear Twitter Advertisers”, Musk said the following:

I didn’t do it because it would be easy. I didn’t do it to make money. I did it to try and help humanity, whom I love.

Big changes as Musk nets Twitter

But Musk is certainly not extending the love to everyone. Musk’s reported first moves were to show CEO Parag Agrawal the door (reportedly with an escort). Also gone are the head of legal, policy and trust Vijaya Gadde, and chief financial officer Ned Segal. The new ‘Chief Twit’ has also flagged layoffs of up to 75% of Twitter’s staff

Musk has not been quiet about his desire to return “free speech” to Twitter, which could possibly include the removal of former US President Donald Trump’s ban on the platform. However, he also stated in his ‘Letter to Advertisers that he didn’t want to see the platform become a “free-for-all hellscape”.

It’s certainly the new dawn of a new era for Twitter. And perhaps in Elon Musk’s eyes, for humanity.

Twitter stock last traded at a price of US$53.70.

The post Musk finally swoops on Twitter and casts CEO out of the nest. What now? appeared first on The Motley Fool Australia.

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More reading

• Why Tesla stock topped the market on Thursday
• ‘Let that sink in’ — Dogecoin soars as Twitter deal seemingly set to close
• If ASX lithium shares are soaring, why is the ACDC ETF down 9% in 2022?
• Why did Tesla stock rise today?
• Why Tesla and other EV stocks popped today

Motley Fool contributor Sebastian Bowen has positions in Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla and Twitter. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Lake Resources N.L. (ASX: LKE) share price has ended the week in a disappointing fashion.

The heavily shorted lithium developer’s shares fell 6.5% to 98.5 cents.

Why did the Lake Resources share price tumble?

Although the company released its annual report after the market close yesterday, there was nothing notable in it to explain the fall today.

Instead, the weakness in the Lake Resources share price on Friday appears to have been driven by broad market selling. Particularly given how the selling has been strongest in the materials sector and with higher risk shares.

And Lake Resources certainly ticks those two boxes. With the company betting on an unproven technology being the answer to its prayers at the Kachi Lithium Project in Argentina, it has a big and uncertain 12 months ahead.

This was outlined in its annual report, with management explaining:

A number of milestones lie ahead for Lake in fiscal 2022, including first production from the demonstration plant at Kachi, the successful completion of the DFS, an Environmental and Social Impact Assessment (ESIA) and the delivery of our first ever Sustainability Report. Yet with supportive financiers and investors, an experienced team at the helm and very strong demand for our product, I have every confidence we have an outstanding year ahead.

Time will tell if Lake has an “outstanding year,” but with 8.7% of its shares held short, a lot of investors are definitely betting that it won’t.

The post Why is the Lake Resources share price sinking 6% today? appeared first on The Motley Fool Australia.

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More reading

• Have Lake Resources shares really surged 200% since their ASX debut?
• These are the 10 most shorted ASX shares
• If I’d bought $1,000 of Lake Resources shares a year ago, I’d be one happy investor today
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The A2 Milk Company Ltd (ASX: A2M) share price has outperformed the S&P/ASX 200 Index (ASX: XJO) in the last two days of the week.

A2 Milk shares have climbed 0.28% since market close on 26 October and are currently trading at $5.30. For perspective, the ASX 200 Index (ASX: XJO) has fallen 0.42% in the same time frame.

Let’s take a look at what has been happening with A2 Milk.

What’s happening at A2 Milk?

A2 Milk advised the market it is on track to achieve its ambition to grow sales to $2 billion and improve EBITDA margins over time.

In a company presentation yesterday, A2 Milk said it has made solid progress in the 2022 financial year towards its medium-term ambition with “most growth drivers and associated initiatives” on track to plan.

This includes the China infant milk formula label, which A2 Milk said is “ahead”. Other nutritional products and emerging markets are a “work in progress”.

Looking ahead to FY23, A2 Milk is optimistic about revenue growth. The company said:

Outlook for FY23 is for high single digit revenue growth broadly consistent with achieving medium term ambition over time.

A2 Milk achieved a 59% boost in EBITDA in the 2022 financial year, while revenue lifted 19.8% to more than $1.4 billion.

Meanwhile, A2 Milk advised earlier this week that Shareef Khan has resigned as chief operations officer. He will finish up at the end of December to spend more time with family and explore other pursuits. The company will introduce a new chief supply chain officer role within the executive leadership team. The new appointment will be announced in the coming weeks.

Earlier this month, analysts at Bell Potter maintained a buy rating with a $6.60 price target on the company’s shares. This implies a nearly 25% upside on the current share price.

A2 Milk share price snapshot

A2 Milk shares have fallen 14% in the past year and nearly 3% year to date.

For perspective, the ASX 200 has lost nearly 9% in the last year.

A2 Milk has a market capitalisation of about $3.9 billion based on the current share price.

The post Why is the A2 Milk share price having a better end to the week than the index? appeared first on The Motley Fool Australia.

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More reading

• Why is the A2 Milk share price falling today?
• Which ASX All Ords shares avoided a sell-off during the last recession?
• Looking to buy A2 Milk shares? Here’s what to watch at next month’s AGM
• Is the A2 Milk share price a buy ahead of next month’s AGM?
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

According to a note out of Citi, its analysts have retained their buy rating on this bank’s shares with an improved price target of $29.25. This follows the release of the banking giant’s full year results, which were stronger than it was expecting. And while Citi acknowledges that ANZ’s costs guidance has spooked investors, it remains positive and expects consensus estimates to increase to reflect its stronger net interest margin. The ANZ share price is trading at $25.24 today.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

A note out of Morgans reveals that its analysts have retained their add rating with a slightly trimmed price target of $88.00. The broker has reduced its earnings estimates slightly for the coming years to reflect cost inflation and other factors. However, it feels these headwinds will be temporary and remains very bullish on the company’s long term growth thanks to its store rollout plans. The Domino’s share price is fetching $61.73 on Friday afternoon.

Super Retail Group Ltd (ASX: SUL)

Analysts at Goldman Sachs have retained their buy rating on this retailer’s shares with an improved price target of $13.90. This follows the release of a trading update which revealed that Super Retail’s sales were up 20% during the first 16 weeks of FY 2023. Goldman was pleased with this update and appears confident its solid form will continue during the Christmas trading period. So, at less than 10x forward earnings, the broker feels its shares are great value at the current level. The Super Retail share price is trading at $10.01 on Friday.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs gives its verdict on the ANZ share price
• 5 big ASX announcements making news this week
• 5 things to watch on the ASX 200 on Friday
• Batten down the hatches as RBA may hit households with ‘supersized’ interest rate hike on Melbourne Cup day
• 3 ASX 200 shares rising after Q1 trading updates

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 Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Super Retail Group Limited. 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.

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