Are you looking for some ASX dividend shares to buy for your income portfolio? If you are, then the two listed below could be worth considering.

Both have been named as buys and tipped to provide investors with good yields. Here’s what you need to know about them:

HomeCo Daily Needs REIT (ASX: HDN)

The first ASX dividend share that has been named as a buy is HomeCo Daily Needs.

As its name implies, this is a property company with a focus on properties that serve daily needs. These are convenience-based assets found in metro locations such as large format retail and health and services.

Morgans is very positive on the company. This is due to its exposure to daily needs assets and “large development pipeline.”

The broker also expects some very big dividend yields in the near term. It is forecasting dividends per share of 8.3 cents in FY 2023 and 8.4 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.18, this will mean dividend yields of 7% and 7.1%, respectively.

Morgans has an add rating and $1.50 price target on HomeCo Daily Needs’ shares.

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share that has been named as a buy is NAB. It is of course one of Australia’s big four banks.

Goldman Sachs is positive on the bank and has named it one of only two to buy right now. This is due largely to the bank’s exposure to commercial lending, which it believes will fare better than home lending in the near term and its belief that NAB “provides the best exposure to this thematic.”

In respect to dividends, Goldman is expecting this to support fully franked dividends of $1.68 per share both FY 2023 and FY 2024. Based on the current NAB share price of $29.09, this implies yields of 5.8% for income investors.

Goldman Sachs has a buy rating and $33.06 price target on its shares.

The post Buy NAB and this ASX dividend share: analysts appeared first on The Motley Fool Australia.

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• What’s happening with ASX 200 banks today as First Republic teeters on the brink of collapse?
• Investing in ASX 200 shares? Here’s what to expect from the RBA tomorrow
• Why did the NAB share price smash the ASX 200 in April?
• Analysts say these ASX 200 dividend stocks are top buys
• Should I buy NAB shares ahead of next week’s half-year results?

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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TPG Telecom Ltd (ASX: TPG) landed on the ASX in July 2020 as a result of the merger between Vodafone Australia and TPG. 

The combined business instantly became the third-largest telecommunications provider in Australia.

So after three years of public trading, are TPG shares now worth buying into?

Why TPG shares could be a good buy

By Tristan Harrison: The TPG share price has been on a solid run over the past month, rising by around 10%. That compares favourably to the S&P/ASX 200 Index (ASX: XJO) which has only gone up by 1%. I think its total returns can keep outperforming over the next few years.

The ASX telco share has steadily grown its dividend each year since it was listed a few years ago and is expected (according to Commsec numbers) to keep growing the dividend to FY25. That FY25 payment could be 21 cents per share, which would be a grossed-up dividend yield of 5.5%. 

The earnings per share (EPS) is also predicted to increase in FY24 and FY25, which could be a positive factor for the TPG share price.

A lot of the smaller competitors have been acquired, or merged, with the larger players in recent years. This may be why Telstra Corporation Ltd (ASX: TLS) is willing to increase prices significantly. If rivals are increasing prices, TPG may be able to attract customers with better value. Or TPG could keep increasing prices to improve its profit margins. 

TPG is seeing an increase in subscribers, gaining 300,000 subscribers in the 2023 financial year. It’s also working on reducing costs as part of the synergies between the merger of TPG and Vodafone Australia.

While it may not be the strongest performer in the next 12 months, I think it can beat the returns of the ASX 200 thanks to its growing subscribers and defensive earnings. 

Motley Fool contributor Tristan Harrison does not own shares in TPG Telecom Ltd.

Heading down while rivals are heading up

By Tony Yoo: TPG Telecom shares have, unfortunately, been nothing but a disappointment since they listed on the ASX.

The stock price is down more than 36% since its first-day closing price, even though industry conditions have become more favourable.

The telco sector has consolidated over the past few years, meaning the days of loss-leading sales are largely over. Many of the smaller players have been bought out by the bigger fish, such as when Optus acquired Amaysim.

The merger between Vodafone and TPG itself was part of this trend.

Don’t get me wrong – mobile phone and broadband retailing are still very commoditised. The services are almost a utility these days, similar to water and electricity.

But it’s a far more rational market now than it was a few years ago, when telcos went broke to sign up customers.

TPG Telecom, however, has failed to take advantage of the better business environment, losing market cap while the Telstra share price has rocketed more than 30%.

Speaking of Telstra, investors must take note that the telco industry is one that is capital-intensive.

This places smaller players at a more pronounced disadvantage than other sectors. Telstra and Optus simply have deeper pockets than TPG to invest in and maintain infrastructure.

Finally, the man who founded TPG and grew it from a small computer shop to a telco giant, David Teoh, exited the merged entity in 2021. An executive with that type of growth experience is not easy to replace, and the company is no longer a “founder-led business”.

Hence I would not buy TPG shares right now.

Motley Fool contributor Tony Yoo does not own shares in TPG Telecom Ltd.

The post TPG shares showdown: To buy, or not to buy? appeared first on The Motley Fool Australia.

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More reading

• Buy NAB and this ASX dividend share: analysts
• 79% upside: The ‘frustrating’ ASX share waiting to take off
• What’s the forecast for the lithium price in May?
• Should I buy Westpac shares ahead of next week’s half-year results?
• Get rich slowly! The 3 keys to building wealth with ASX shares

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 positions in and has recommended Telstra Group. The Motley Fool Australia has recommended TPG Telecom. 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 efficient market hypothesis says share prices always reflect all available information about the businesses.

However, veteran ASX investors would know that in reality that’s not necessarily true.

Sometimes the market just fails to fully appreciate the merits or the cons of a company and the stock becomes under- or overpriced.

Shrewd investors can take advantage of this “inefficiency”, assuming that eventually the rest of the market wakes up and the stock price will “catch up”.

‘A lot more value’ in business than the current valuation

One such candidate is diagnostic imaging provider ​​Capitol Health Ltd (ASX: CAJ).

The share price has fallen almost 17% over the past 12 months, and is actually trading at 21% below what it was in the middle of 2018.

However, Sequoia Wealth senior wealth manager Peter Day noted last month that Capitol Health reported pleasing results.

“First half 2023 revenue of $98.1 million was up 3.4% on the prior corresponding period,” said Day.

“In the near term, we forecast a recovery in face-to-face general practitioner consultations as a catalyst for improving imaging volumes.”

Shaw and Partners portfolio manager James Gerrish acknowledged that life as a Capitol Health investor hasn’t been easy.

“I know Capitol Health has been a frustrating position,” he said on a Market Matters Q&A.

“However, we do think there is a lot more value in their business than is being ascribed by the market, something more like 45, 50 cents.”

Compared to the Tuesday trading price of 28 cents, a rise to 50 cents would represent a whopping 78.5% upside.

“For that reason, we are remaining patient — pardon the pun!”

The stock pays out a dividend yield of 3.64%, which could soothe the pain while you wait for the share price to climb.

Day also thinks the stock is a prudent buy.

“We believe Capitol Health is well positioned relative to peers given strong specialist recruitment and exposure to recovery locations in Victoria.”

The post 79% upside: The ‘frustrating’ ASX share waiting to take off appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares to buy that no one talks about

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 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 lithium price has declined from the glory days of 2022, but could it recover in the future?

ASX shares impacted by the price of lithium include Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO), Allkem Ltd (ASX: AKE), and Lake Resources (ASX: LKE).

Let’s check the outlook for the lithium price.

What could happen?

Lithium prices are in the spotlight again amid Chile’s plan to nationalise its lithium industry. This could certainly impact lithium supply globally.

China-based research company Antaike is forecasting lithium carbonate prices to average 220,000 yuan (US$33,828) a tonne this year. That’s 54% less than 2022, Asia Financial reported. However, this is still higher than the current lithium carbonate price.

Battery-grade lithium carbonate is currently up 0.81% to US$27,065.28 a tonne on the Shanghai Metals market.

Commenting on the outlook for the lithium price, CRU head of battery rare materials Martin Jackson said:

Demand was showing softness early in the year, but we’re still expecting a relatively tight market for the year on average and that’s because of much stronger demand from EV sales later in the year.

Meanwhile, ANZ commodity strategists Daniel Hynes and Soni Kumari are optimistic about the lithium price amid supply risks from resource nationalism. The strategists highlighted lithium prices are down nearly 75% from a recent record high.

Hynes and Kumari noted Chile’s policy will require state involvement for “all new lithium projects” and the use of environmentally friendly processing that is “still unproven on a commercial scale”. In a research report released Thursday, they added:

This could delay the delivery of its pipeline of projects. Other producers also have their issues. Increasing resource nationalism, particularly in Africa could limit growth in supply.

The outlook for the EV sector remains strong. We expect these latest supply side issues to reignite supply concerns, leading to a rebound in prices.

Share price snapshot

It’s been a mixed bag for the ASX’s major lithium shares. Pilbara shares have returned 54% in the last year.

Core Lithium shares have lost 28% in the past 52 weeks.

Allkem shares have shed 2% in the past year.

Meanwhile, Lake Resources shares have descended 74% in the last 12 months.

The post What’s the forecast for the lithium price in May? appeared first on The Motley Fool Australia.

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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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Westpac Banking Corp (ASX: WBC) shares have had a tough time over the last 12 months.

During this time, the banking giant’s shares have lost 6.5% of their value, as you can see on the chart below.

In light of this weakness, some investors may be tempted to pick up Westpac shares before it releases its results next week. But should they wait?

Should you buy Westpac shares ahead of its results?

Buying shares before they release their results is a risky move. A strong result could see a share rocket higher, but a weak result could see the opposite happen.

In light of this, it may make sense to buy a share in two stages. Half before the results and half after the release. This limits your downside if things go awry and also allows you to benefit from any gains if things go well.

But is Westpac a buy? Well, it is according to Goldman Sachs. It is expecting a strong result from Australia’s oldest bank and is recommending investors snap up its shares.

Goldman recently reiterated its conviction buy rating and $25.86 price target on the bank’s shares. Based on the current Westpac share price of $22.55, this implies potential upside of 15% for investors over the next 12 months.

And with the broker forecasting a $1.44 per share fully franked dividend in FY 2023, which represents a 6.5% yield, the total potential return on offer here is approximately 21%.

What is Goldman expecting from the half-year result?

If you are planning to buy Westpac shares, you will no doubt want to keep an eye on its results.

Goldman Sachs is expecting Westpac to report cash earnings (before one-offs) of $3,781 million, which is just a touch short of the consensus estimate of $3,788 million. It also represents a sizeable 22.2% increase on the prior corresponding period.

This is expected to be supported by a net interest margin of 2.03% and underpin a fully franked interim dividend of 72 cents per share. The latter will be an 18% increase from FY 2022’s interim dividend of 61 cents per share.

The post Should I buy Westpac shares ahead of next week’s half-year results? appeared first on The Motley Fool Australia.

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• Don’t get duped: Why cheap ASX shares can still rip you off
• Which is the best ASX 200 bank share to buy right now?
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Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 Westpac Banking Corporation. 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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Everyone, or at least everyone reading The Motley Fool, wants to achieve financial freedom.

But investing isn’t easy. Otherwise everyone would be rich!

Although the biggest headlines are for stories of people who strike gold overnight, the reality is that most of the truly wealthy built up their assets over a long period of time.

So how does one do this?

Don’t try to time the market

Timing the market is fraught with danger because no one knows what will happen later today, let alone tomorrow, next week, or next year.

If you sell too many shares then you risk holding useless cash when the market recovers from a dip. That’s when the most money is made.

A remarkable table from Betashares earlier this year showed how the 20 biggest single-day rallies on the ASX since 1 June 1992 all occurred in the aftermath of horrible market crashes.

“The more of those big rallies that you miss out on, the lower your gains over the long term,” said Betashares executive Annabelle Dickson.

“An overwhelming body of research finds that [a] passive buy-and-hold, long-term approach to owning shares produces better long-term results.”

Pick quality, rather than risky stocks

We’ve all heard the stories at the BBQ about acquaintances that watched their stock become a 10-bagger over just two years.

That’s fantastic, but ASX shares that do that are usually risky propositions before they have grown 10-fold. 

For every one of those that returned 1,000%, there will be a whole bunch of similar ones that burned a hole in their investors’ pockets.

Becoming wealthy slowly involves buying stocks that might not explode or crash like that but will more reliably produce smaller annual returns.

Those stocks more often represent larger, more mature companies that already have a decent customer base.

And over time, a string of years with positive returns will see your asset grow handsomely.

Save and invest often

Adding to the portfolio, unsurprisingly, is an excellent way of building wealth in the long run.

There are two ways of achieving this: saving a portion of your regular income to put towards investing, and ploughing any dividends back into shares.

Earlier this year, stock expert Brian Feroldi revealed how an investor’s saving rate is far more important than a high income or investment returns.

Sure, having a high income makes it easier to put some aside for investing, but it in itself doesn’t make you wealthy.

“Just ask some of the highly-paid celebrities and athletes who [end] up filing for bankruptcy protection — Mike Tyson, Nicholas Cage, Lindsay Lohan,” he said.

High investment returns are also lovely. But if you haven’t saved enough to invest then you won’t be able to get any returns — let alone big ones.

“This is why your savings rate is so important. It’s the small input that can [reliably] predict your ability to become wealthy.”

The post Get rich slowly! The 3 keys to building wealth with ASX shares appeared first on The Motley Fool Australia.

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• Qantas share price falls on CEO succession news

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 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 world is a scary place at the moment.

The Reserve Bank of Australia this week raised interest rates yet again, adding tens of thousands of dollars to the annual burden for home loan holders.

Inflation continues to rage, taking the cost of living through the roof.

The war in Ukraine continues, causing bottlenecks in the energy market.

Who knows if Australia or other developed economies might fall into recession. At the very least, consumers and businesses will suffer greatly.

Is this all too much?

In times like these, it could be worth your sanity to buy some “safe” ASX dividend stocks so that you can switch off the news.

So what are the ASX shares that you could lock away, then come back three years later to see how well they have grown?

Here are two suggestions:

Big but not immobile

Although the mining sector is notoriously cyclical, BHP Group Ltd (ASX: BHP) has managed to smooth out the fluctuations admirably.

Over the past five years, the share price has climbed 38.6%, with it only dipping below the starting point during the COVID-19 crash of March 2020.

This is all while paying out a chunky dividend yield of 8.8%.

The Big Australian has recently shown a willingness to adapt to a changing global environment.

In 2021, it sold off its oil and gas business to Woodside Energy Group Ltd (ASX: WDS). At the same time, BHP flagged its intention to focus on minerals that are critical to the global transition to zero carbon emissions.

This year it completed a takeover of major copper producer Oz Minerals, which will cash in from demand for the mineral in electronics and batteries.

With China ramping up its economy after three years of harsh COVID-19 lockdowns, BHP could continue to enjoy robust demand for its products.

BHP shares closed Tuesday at $43.63 apiece.

Morgans, Goldman Sachs, and Macquarie analysts all have price targets in excess of $50 for the mining giant.

Dividend increased every year for 23 years

Washington H Soul Pattinson and Co Ltd (ASX: SOL), at 2.5%, doesn’t have a stunning dividend yield to speak of.

But its adaptability and track record of increasing dividends makes it an attractive proposition.

In fact, the market has recognised this, with the share price recently hitting 52-week highs.

As an investment company, Soul Pattinson can switch up its investments to whatever looks attractive at any given time. More than once, experts have described the business as Australia’s answer to Warren Buffet’s company Berkshire Hathaway Inc (NYSE: BRK.A).

Impressively, Soul Pattinson has hiked its dividends each year since the year 2000. That’s through the dot-com crash, the global financial crisis, and the COVID-19 pandemic.

Shaw and Partners portfolio manager James Gerrish is one expert who would still buy Soul Pattinson at current levels due to its 37% ownership of New Hope Corporation Limited (ASX: NHC).

“We would be accumulating Soul Pattinson now if we were looking for some additional quasi-coal exposure.”

The post Worried about the market? 2 ASX dividend stocks that could help you sleep at night appeared first on The Motley Fool Australia.

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• Dalio says US and China ‘on brink of war’. Which ASX shares could be impacted?
• How I’d invest $1,000 in May to make easy passive income

Motley Fool contributor Tony Yoo has positions in Macquarie Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway, Goldman Sachs Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Macquarie Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Berkshire Hathaway. 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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Investing in ASX shares has been a profitable venture for most investors in 2023.

Since the opening bell on 3 January, the All Ordinaries Index (ASX: XAO) has gained 5%. And that figure doesn’t include any dividend payouts made by many of the larger ASX shares.

That’s certainly a solid return, as we’re only four months into the new year.

But there are a select number of stocks that will have left those 5% gains in the dust in 2023.

Below, we look at five ASX shares that would have more than doubled your money so far this year. All prices are noted as at Tuesday’s close.

ASX share leaps 142% in 2023

First up, we have ASX healthcare share Avita Medical Inc (ASX: AVH) which specialises in regenerative medicine.

The Avita share price closed up another 1.3% yesterday, bringing its year-to-date gains to 141%. At that price, the company has a market capitalisation of $581 million.

Avita shares trended higher right from 3 January. But shares really took off in the days following the release of the company’s fourth quarter and full 2022 calendar year results on 24 February.

Highlights included a 36% year-on-year increase in commercial revenues, which reached $34.1 million in 2022. And the ASX share managed to maintain the 82% gross profit margin it also posted in 2021.

The Avita share price is up 78% since reporting those results.

Gold stock shining brightly

Next up, we have Resolute Mining Ltd (ASX: RSG). The Resolute share price is up 134% in 2023.

The gold miner has been partly supported by a 5% increase in the price of bullion this year.

But the ASX share has widely outperformed its peers due to several other factors.

Among the releases piquing investor interest, the miner reported first five, then six, consecutive quarters of increased gold production in two quarterly updates released this year.

Resolute separately announced that its total ore reserves had increased to 4.6 million ounces of gold while its Mineral Resources increased to 11.2 million ounces of gold.

The sharp rise in its market cap saw Resolute admitted to the S&P/ASX 300 Index (ASX: XKO). That’s also likely to support its share price as more fund managers, limited to investing in larger stocks, will now be able to add the gold stock to their holdings.

Riding high on the travel rebound

The third ASX share that would have doubled your money so far in 2023 is Helloworld Travel Ltd (ASX: HLO).

Despite a sizeable slide on Tuesday, shares in the travel distribution company are up 124% since trading kicked off on 3 January.

The ASX share got a big boost towards the end of February on the back of its half-year results.

Investors bid up the Helloworld share price after the company reported a 209% year-on-year increase in total transaction volume (TTV). TTV for the six months came in at $1.2 billion.

Meanwhile, revenue from continuing operations leapt 151% to $73 million. And the travel stock returned to profit following a sizeable loss in the prior corresponding half year.

That strong performance has continued in 2023.

Last week, the travel company reported another big year-on-year lift in quarterly TTV, up 150% to $596.2 million. Revenue for the quarter increased 240% to $46.9 million.

And investors were obviously pleased when Helloworld lifted its full-year earnings before interest, tax, depreciation, and amortisation (EBITDA) guidance.

ASX share rockets 122% driven by takeover offer

When the closing bell rang on 27 March, the Liontown Resources Ltd (ASX: LTR) share price was up a very respectable 24% for the year.

Then things really took off for the ASX lithium share.

On 28 March, the Liontown share price gained a whopping 69%, with the stock now up 122% in 2023.

Investors snapped up shares in the lithium miner late in March after the company reported it had received a takeover offer from lithium heavyweight Albemarle (NYSE: ALB).

Liontown’s board rejected the $2.50 per share offer noting, “the opportunistic timing of Albemarle’s Indicative Proposal, coinciding with recent softness in companies exposed to the lithium sector and the pre-production status of the Kathleen Valley Project”.

And the board looks like they were onto something.

The ASX lithium stock closed yesterday trading for $2.72 per share.

Leading the charge!

Rounding off the list of ASX shares that could have more than doubled your money already in 2023, we have medical research technology company 4DMedical Ltd (ASX: 4DX).

The healthcare stock closed up another 21.47% yesterday after reporting it has commenced commercial scanning within the Veterans Health Administration in the United States.

Yesterday’s big lift brings the 2023 share price gains for 4DMedical to a stellar 190%. Or enough to turn a $5,000 investment into $14,500. And in just four months.

The other big move higher for the ASX share came on 5 April.

That’s when 4DMedical announced it had signed a five-year contract with the University of Miami in the US to deliver X-ray velocimetry lung ventilation analysis software ventilation reports.

This represents the first US hospital Software as a Service (SaaS) contract for the company.

The ASX share closed up 63% on the day of the announcement.

The post 5 top ASX shares that would have more than doubled your money in 2023 appeared first on The Motley Fool Australia.

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More reading

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• This ASX gold stock is up a whopping 130% in 2023. Here’s why
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• Making it rain: Could this signal a boom for ASX 200 lithium stocks?

Motley Fool contributor Bernd Struben 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 Avita Medical and Helloworld Travel. The Motley Fool Australia has positions in and has recommended Helloworld Travel. The Motley Fool Australia has recommended Avita Medical. 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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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) came under pressure after the RBA made a shock rate hike. The benchmark index fell 0.9% to 7,267.4 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to tumble again

The Australian share market looks set to fall again on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% lower this morning. On Wall Street, the Dow Jones was down 1.2%, the S&P 500 dropped 1.2% and the Nasdaq fell 1.1%.

Oil prices sink

It could be a very tough session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 5.5% to US$71.50 a barrel and the Brent crude oil price has sunk 5.2% to US$75.16 a barrel. This was driven by worries about a U.S. debt default and expectations that fuel demand could suffer if central banks in the U.S. and Europe raise interest rates again this week.

Buy Woolworths shares

The Woolworths Group Ltd (ASX: WOW) share price could be great value according to Goldman Sachs. This morning, the broker has reiterated its conviction buy rating with an improved price target of $42.80. In response to its third-quarter update, the broker said: “We tweak our FY23-25e group sales by ~+1% and NPAT by 0.4%-1.1% respectively. This is due to slightly higher sales across all key business segments while our margin views remain intact. Our updated forecasts imply FY22-25e ~3.4% sales CAGR and ~9.6% CAGR for EBIT/NPAT respectively.”

Gold price jumps

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price jumped overnight. According to CNBC, the spot gold price is up 1.6% to US$2,024.2 an ounce. The market selloff appears to have increased demand for safe haven assets.

Megaport shares a buy

The team at Morgans believes that Megaport Ltd (ASX: MP1) shares could be heading even higher after last week’s heroics. This morning, the broker retained its add rating with an improved price target of $9.00. It highlights that “management’s guidance for FY23 and FY24 was well ahead of consensus expectations.”

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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More reading

• ASX 200 energy shares to fall after oil prices collapse
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• ASX 200 plunges as RBA surprises investors with another interest rate boost
• Why Beach, Computershare, Endeavour, and Qantas shares are dropping today

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 Megaport. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Megaport. 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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Are you looking for attractive dividend yields to boost your passive income? If you are, then it could be a good idea to check out the ASX dividend shares listed below that analysts rates highly.

Here’s what they are saying about them:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share that could be a buy is Aurizon. It is Australia’s largest rail freight operator, connecting miners, primary producers, and industry with international and domestic markets.

Morgans is positive on the company and recently revealed that its analysts “see value in the stock at current prices, supported by the far higher quality Network and Coal haulage businesses.”

The broker is also expecting some attractive yields from this dividend share. It is forecasting partially franked dividends of 17 cents per share in FY 2023 and then 19 cents per share in FY 2024. Based on the latest Aurizon share price of $3.45, this will mean yields of 4.9% and 5.5%, respectively.

Morgans currently has an add rating and $3.81 price target on its shares.

Charter Hall Long WALE REIT (ASX: CLW)

Another ASX dividend share that could be worth considering is the Charter Hall Long Wale REIT. This property company focuses on high quality real estate assets leased to corporate and government tenants on long term leases.

Citi is very positive on the Charter Hall Long Wale REIT. This is due partly to its long leases and high occupancy rate, which it believes make the company a low risk option. The broker highlights its “low risk income stream with c. 12 year WALE and 99.9% occupancy.”

It expects this to support dividends per share of 28 cents in FY 2023 and 29 cents in FY 2024. Based on the current Charter Hall Long Wale REIT share price of $4.28, this will mean yields of 6.5% and 6.8%, respectively.

Citi currently has a buy rating and $5.00 price target on its shares.

The post These ASX dividend shares could be strong buys: brokers appeared first on The Motley Fool Australia.

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More reading

• ‘Attractive entry point’: 2 ASX 200 dividend shares to pounce on right now
• Passive income alert! Experts say buy these ASX dividend shares with big and growing yields
• Building wealth through dividend investing: 5 ASX shares to boost your income
• Buy Woolworths and this ASX share for your retirement portfolio: experts
• Buy these ASX 200 dividend shares with 5%+ yields: analysts

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 Aurizon. 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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