The pullback in ASX shares in recent months has seen some long-time reliables take big haircuts.
So some of those stocks that previously made long-term investors very wealthy are at discounted levels.
And many of those businesses have not changed. What they do, how they do it, customer demand, their balance sheets — none of those things have taken a hit due to inflation nor the war in Ukraine.
These experts have picked out 2 ASX shares to buy that are in exactly this position right now.
Seek-ing a bargain?
Ord Minnett senior investment adviser Tony Paterno loves how cheap Seek Limited (ASX: SEK) shares are right now.
The stock for the celebrated job-hunting website rocketed by more than 150% in just 20 months from its lowest point during the COVID-19 market crash.
But since its peak in November, the Seek share price has been caught up in the tech and growth stock correction.
It plummeted from above $36 to $28.12 at yesterday’s close.
Paterno was triggered by information out of Seek during the recent results season.
“The result and guidance upgrade has prompted us to increase our earnings estimates for the recruitment portal, driven by continuing strength in the Australasian market,” he told The Bull.
“We expect Seek to continue extracting value during the next 12 to 18 months.”
Even after the latest dip, Seek shares have returned more than 340% over the past 10 years.
Buying opportunity for a stellar performer
Industrial real estate manager Goodman Group (ASX: GMG) has been a darling share in recent years.
By the end of last year, it had climbed by more than 138% in the 21 months since its coronavirus market trough.
But Goodman shares have plunged 17% this year.
Medallion Financial Group director Philippe Bui can’t understand the negative sentiment.
“Across the board, the first half 2022 result looked impressive,” he said.
“Management of this global industrial property group has upgraded guidance for fiscal year 2022.”
This makes the current discounted share price a golden buying opportunity.
“In our view, Goodman is a business with a strong balance sheet and growth prospects,” he said.
“Operating earnings per share growth is projected to be 20%. Potential for continuing margin expansion is also positive.”
Goodman shares have almost tripled over the past 5 years, going from mid-$7s to $22.19 at yesterday’s close.
The post 2 long-term ASX stars now cheap enough to buy: experts appeared first on The Motley Fool Australia.
Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- 3 ASX tech shares going gangbusters today
- Will ASX REITs get smashed by rising interest rates?
- Analysts name 3 ASX 200 shares with potential upside of 20%+
- 2 blue chip ASX 200 shares analysts rate as buys
- Analysts name 2 ASX 200 blue chip shares to buy
Motley Fool contributor Tony Yoo 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 SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/Fdy4oS2
Leave a Reply