Macquarie Group Ltd (ASX: MQG) is one of several ASX shares gaining in value in recent times.
The Macquarie share price has rocketed 9.7% higher in June but remains down 12.5% for the year. That is the sweet spot that I’m focusing on at the moment: ASX shares with positive momentum that could still be undervalued.
Here’s why Macquarie and a couple of others could be the secret gainers you’re missing out on right now.
3 ASX 200 shares gainers you’re missing out on today
Of course, it’s not as simple as just buying shares that have fallen lower in 2020. There have to be some fundamentals behind a decision to buy or sell an investment. I think this exists with Macquarie.
The Macquarie share price has been climbing higher in recent months. While I don’t have a crystal ball, I do think Macquarie’s status as an investment bank could pay dividends this year.
Macquarie has several investment arms including Macquarie Capital and Macquarie Investment Management.
Those divisions could prove to be a double-edged sword. But I think recent market volatility could be a good thing for Macquarie’s investment teams to outperform.
That means the ASX 200 share could be a dark horse to announce a strong half-year result in October or November.
However, I’ve got my eye on more than just Macquarie right now. I’m also looking at the DEXUS Property Group (ASX: DXS) share price after its recent bullish run.
The DEXUS share price is up 10.2% in June but remains down 13.1% for the year. Dexus owns and operates a significant portfolio of Australian property with a strong focus in office and industrial real estate.
There could be some tough times ahead for office real estate with many companies still operating on a work from home model. That could drive down demand (and rent) which is bad news for ASX 200 REIT shareholders.
However, if we see a quicker bounce back to office culture, DEXUS could be a strong buy. Investors have been buying up DEXUS shares in recent months but it could prove to be a cheap income share at its current price.
Bendigo and Adelaide Bank Ltd (ASX: BEN) is another ASX 200 share that could be in the buy zone. The Bendigo Bank share price has rocketed 17.1% higher in June but is down 26.4% from where it started in 2020.
While changing office dynamics might be a headwind for the DEXUS share price, it could be good for Bendigo. More Aussies could look to move rural if office working arrangements become more flexible.
That could be good news for the ASX 200 bank share if regional centres see an uptick in growth. These things are far from certain right now but I’d be watching the Bendigo Bank share price closely in the second half of the year.
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More reading
- Here are 3 ASX 200 shares with dividend yields over 8%
- Here are 3 Australian share market trends to watch this week
- ASX 200 Weekly Wrap: ASX back in the green
- What is the price/earnings (p/e) ratio?
- Consider these blue chip ASX shares for strong dividend yields
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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