There are a lot of shares to choose from on the Australian share market.
To narrow things down, listed below are two ASX shares that are highly rated by analysts.
Here’s what they are saying about them:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
This pizza chain operator’s shares have been having a tough year. Weakness in Japan and concerns over inflationary pressures have been weighing on investor sentiment.
The team at Morgans remains positive on the company and believes recent share price weakness is a buying opportunity.
It said: “We upgraded to ADD after the result and, although inflationary pressures have worsened since then, we continue to believe there is meaningful upside to the current share price over the next 12 months.”
Morgans has an add rating and $100 price target on the company’s shares.
Lifestyle Communities Limited (ASX: LIC)
Goldman Sachs is a fan of this retirement communities company.
The broker believes Lifestyle Communities is well-placed to benefit from Australia’s ageing population and the structural growth in land lease living.
It explained: “We believe LIC is well positioned to benefit from shifting demographic trends, as its business helps address some critical emerging social issues. Its core business is to provide affordable housing to an ageing population, addressing a key social issue that is becoming more prevalent as the proportion of over 50’s increases. We expect as this population cohort continues to grow, this should deliver structural growth for the industry; we expect demand to far outpace supply at current build rates.”
Goldman has a conviction buy rating and $21.60 price target on its shares.
The post Why analysts say investors should buy these top ASX shares appeared first on The Motley Fool Australia.
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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 recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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