3 no-brainer ASX shares to buy under $30

A number of the highest quality ASX shares on the local share market trade with share prices above $100.

This includes the likes of Cochlear Ltd (ASX: COH), CSL Ltd (ASX: CSL), REA Group Ltd (ASX: REA), and Xero Ltd (ASX: XRO).

It is worth noting that a company’s share price in isolation doesn’t indicate that a company is overvalued or not. Brainchip Holdings Ltd (ASX: BRN) is arguably the most overvalued stock on the Australian share market with a share price of 32 cents.

However, one disadvantage with ASX shares that have large share prices is that it can be difficult to purchase them if you’re operating on a budget of say $500.

For example, two CSL shares will set you back $570 and two Cochlear shares will cost you $684.

The good news is that there are a number of ASX shares trading under $30 that could be no-brainer buys according to analysts. Three are named below:

Life360 Inc (ASX: 360)

This rapidly growing location technology company’s shares are currently changing hands for $7.77. This means you could buy 65 shares with a $505.05 investment.

Goldman Sachs is very bullish on the company’s growth outlook. So much so, it has a buy rating and $10.50 price target on its shares.

If Life360’s shares were to rise to that level, your 65 units would be worth $682.50.

ResMed (ASX: RMD)

This sleep disorder treatment could be a top ASX share to buy on a budget. With a share price of $27.85, it would cost you $501.30 to buy 18 units.

Morgans has named the company as one of its best ideas this month with an add rating and $32.82 price target.

If this recommendation proves accurate, your 18 ResMed shares would be worth $590.76.

Treasury Wine Estates Ltd (ASX: TWE)

Wine giant Treasury Wine could be an ASX share to buy right now. With a $502.66 investment you could pick up 41 units.

Morgans is also a big fan of the company and has an add rating and $14.03 price target on its shares. This price target values your 41 Treasury Wine shares at $575.23.

The post 3 no-brainer ASX shares to buy under $30 appeared first on The Motley Fool Australia.

(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

• Has the CSL share price got further to fall?
• Why Brainchip, DGL, Weebit Nano, and Zip shares are dropping today
• Brainchip share price crashes 23% following another year of losses for ASX AI chipmaker
• Leading brokers name 3 ASX shares to buy today
• Here’s why ResMed shares can jump a further 20%

from The Motley Fool Australia https://ift.tt/RD4OYp7