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The BHP Group Ltd (ASX: BHP) share price has been having a tough time over the last six months.

During this period, the mining giant’s shares have lost 26% of their value and are now fetching $37.27.

While some of this decline relates to the demerger of its petroleum assets, the majority has come from regular plain old selling by investors.

Is the BHP share price good value now?

To see if the BHP share price is good value, let’s take a look at what Australia’s leading brokers are saying about the mining giant. Here’s a summary of the latest broker recommendations:

Citi has a buy rating and $44.50 price target. This implies potential upside of 19%. It said:

We’ve reduced our TP to A$44.5 but stay Buy rated. Dividend yield in FY24E is ~8% fully franked at iron ore price of US$94/t. China stimulus is expected to be a positive for iron ore markets in CY23.

Goldman Sachs has a buy rating and $40.50 price target on the company’s shares, which suggests potential upside of approximately 9%. The broker said:

We believe this premium vs. peers can be maintained due to ongoing superior margins and operating performance (particularly in Pilbara iron ore), high returning copper growth, and lower iron ore replacement & decarbonisation capex.

Macquarie is positive and has an outperform rating and $40.00 price target, implying potential upside of 7%. Macquarie was impressed with BHP’s performance in FY 2022 and highlights its “materially better” than expected cash flow and dividend.

Over at Morgans, its analysts have an add rating and $48.40 price target on its shares. This implies potential upside of 30% for investors. It said:

Strong result with a final dividend beat. BHP continues to show it is better positioned than most (all?) of its peers. One of our key reporting season picks, we view the dividend/FCF surprise and resulting re-rating as justified.

Finally, UBS is the least positive broker I’m aware of with its neutral rating and $35.50 price target. It has concerns over potential commodity price declines in the coming years.

Overall, the picture appears very positive for the BHP share price and also its dividend. In respect to the latter, collectively, the market is forecasting a fully franked dividend yield of greater than 8% in FY 2023.

The post What are brokers saying about the BHP share price? appeared first on The Motley Fool Australia.

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More reading

• What’s the outlook for the BHP share price in September?
• August’s RBA rate hike saw investors favour Macquarie and BHP shares. Here’s what to expect in September: expert
• Why are BHP shares off and racing on Monday?
• How I’d invest $50,000 in ASX dividend shares for retirement, if I had to start from scratch
• Why did the BHP share price smash the ASX 200 in August?

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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Ask A Fund Manager

The Motley Fool chats with the best in the industry so that you can get an insight into how the professionals think. In this edition, SG Hiscock portfolio manager Hamish Tadgell gives his thoughts on a trio of stocks that have fallen off a cliff this year.

Cut or keep?

The Motley Fool: Now let’s take a look at what you might do with three ASX shares that have plunged in recent times. 

First is Seek Limited (ASX: SEK), which has lost almost 40% year to date.

Hamish Tadgell: I’d say this is a keeper.

We think it’s a quality business with some very strong longer-term growth prospects and optionality on Asian markets in particular. 

I think, though, that the market’s clearly been debating how much this company could be priced or impacted for a recession. And when we look at it, the market’s actually pricing a recession in or about a 25% drop in volumes in this business. Seek did very well coming out of COVID, really tight labour markets. Everyone’s looking to put people on and jobs.

There’s this concern that [if] we get a recession, then people will stop employing and job advertising will fall in a hole. We certainly think that consumer spending will slow over the next sort of 12, 18 months with higher rates, as household cash flow starts to come under a little bit more pressure. But we don’t see the same drop off at this point in labour market activity. 

This week, [there was] a two-day conference up in Canberra, which is all about trying to create more jobs in a very tight labour market, which has been COVID impacted, but I think there’s other structural issues going on, changing it at the moment. And we think that Seek should continue to benefit from a reasonably resilient labour market over the next sort of 12, 18 months. 

Therefore, I see it as being mispriced at the moment.

MF: At least in Australia, it’s got quite a dominant market position. It’s seen off many challengers over the years, hasn’t it?

HT: Yeah, it does. Look, I mean LinkedIn and Facebook and others over the years have become competitors, but it’s certainly still the preeminent site, the leading site. 

What we look for in these online businesses is you want to be the market leader because it’s the virtuous circle that you look for in these businesses where the market leader creates more opportunities, that then feeds into more eyeballs. More eyeballs feed into that being the preeminent site where people want to advertise and you get that virtuous circle and we still think that Seek certainly has that.

MF: How do you feel about Aristocrat Leisure Limited (ASX: ALL), which has lost about a quarter of its stock price this year?

HT: Yeah, this stock was clearly impacted during COVID. It had a very strong recovery due to the [post-]COVID recovery, but also due to the announcement that it made that it was looking to get into iGaming and buy one of the leading competitors overseas and that transaction fell over, and with it, the stock has come back quite a bit. 

But we still see this as a quality business generating $1 billion in free cash flow per annum with little debt. It is the leading global player in electronic gaming machines and it’s really got a strong opportunity to continue to grow in the gaming and digital online space. 

I’d say, in particular, it’s very well positioned to still develop and grow in that iGaming, or real money gambling as they call it, market in the US. So, this is an opportunity, which Aristocrat looked to buy and enter the market through buying a competitor. That didn’t play out, but it’s now going the organic route of developing the business itself. But we certainly think that they’ve got the people and the opportunity and the capital to be able to do that.

The iGaming market in the US is estimated to be about $20 billion. It’s emerging as a result [of] the deregulation by the US states at the moment… So we see it again as a keeper and one that we think there’s certainly value opened up as a result of the pullback in price.

MF: Great, so two buys there. 

What are your thoughts on the third one, GPT Group (ASX: GPT), which has dropped about 24% so far this year?

HT: It’s an REIT that has derated a lot over the last 12 months. General Property Trust is the biggest diversified REIT probably in the market — office, industrial, retail, and some funds management. 

This is one we probably cut. We just think that we’re increasingly cautious around the office and the industrial market. And in particular, office really, we think is probably the asset, the property asset class that is most at risk post-COVID from changing behaviour.

MF: There’s been a cultural change in where people work, hasn’t there?

HT: Well, I think it is. There’s been a lot [of debate], over the last 12 months… but it remains pretty uncertain how it’s going to play out. 

We’re seeing it in our business and our observation talking to a lot of companies is that staff are seeking more flexibility. People are spending less time in the office. And I think companies are getting to that realisation and up until now probably have been debating about how much space they need, what they need.

But I think over the next year or so, in a couple of years, you’re going to start to see more decisions made. And I think that is going to have a big impact upon rents and cap rates in the office space. We’re seeing already at the moment — the incentives in the office have gone up dramatically. 

Industrial assets have been very big — had done incredibly well — through the deflationary cycle and lower rates, but also globalisation. And my comments at the outset about higher rates, de-globalisation, I think, puts some pressure around those cap rates.

The area we probably prefer the most is probably retail at the moment, in terms of property, but also social infrastructure assets like I spoke about before in terms of, Qube Holdings Ltd (ASX: QUB).

So for those reasons, I think it’s one that we would probably cut.

The post 2 discounted ASX shares I’d buy now and one I wouldn’t touch: expert appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Morgans names 3 of the best ASX shares to buy in September
• These 9 ASX 200 shares are going ex-dividend tomorrow
• Here are 2 ASX 200 shares that experts rate as buys
• $20,000 invested in these ASX shares 10 years ago is worth how much now?

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 Scott Phillips.

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The hottest commodity right now is arguably coal. The price of black gold has been rocketing higher this year after Russian exports were taken off the market and Europe faces an energy crisis.

And with Russian coal unlikely to return to the market any time soon, coal miners look well-placed to generate big profits for some time to come.

While many investors will be well aware of giants New Hope Corporation Limited (ASX: NHC) and Whitehaven Coal Ltd (ASX: WHC), one ASX coal share that could be flying under the radar is Bowen Coking Coal Ltd (ASX: BCB).

But that may not be the case for much longer, with analysts at Morgans tipping Bowen Coking Coal to become a metallurgical coal force in the future.

What is Morgans saying about this ASX coal share?

According to a recent note, the broker has initiated coverage on the company’s shares with a speculative buy rating and 54.6 cents price target.

Based on the current Bowen Coking Coal share price of 44 cents, this implies potential upside of 24% for this ASX coal share over the next 12 months.

Morgans has described the company as “an emerging force in met coal” and believes it is well-placed to become a significant producer. The broker explained:

Bowen Coking Coal (BCB) is transforming into a significant coal producer thanks to prescient acquisitions and the ability to leverage current coal price strength. BCB looks comfortably funded to refurbish its flagship asset at Burton, with coal sales now ramping up from Bluff and Broadmeadow (BME). We think BCB justifies a price premium to reflect its: 1) acquisition track record; 2) clear strategic/corporate appeal; and 3) scarcity value in a hot coal market. We initiate coverage with a Speculative Buy noting 38% [now 24%] upside to our 55cps target. Our valuation under a strong bull case price scenario rises to 71ps (80% [now 61%] upside).

Another positive is that the company has the option to add thermal coal into the mix if desired. Morgans highlights:

While predominantly a met coal asset (60% HCC), Burton has interesting optionality to sell a thermal product should a prolonged energy crisis support the current +40% arbitrage in thermal coal prices over HCC [hard coking coal].

The post Broker says this ASX coal share is ‘an emerging force’ appeared first on The Motley Fool Australia.

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More reading

• ‘A very good deal’: Expert names 2 ASX shares to buy for CHEAP now
• Broker tips 22% upside for the AGL share price
• Here’s what a top broker is saying about the Bank of Queensland share price
• 2 healthcare ASX shares ready to go off like a cracker: experts
• Experts say these 2 ASX dividend shares are buys

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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As interest rates head up yet again, there’s no longer a question of whether an economic downturn will come, but it’s now a matter of how severe it will be.

Some of the ASX shares that are most impacted by a slowdown in spending is anything related to advertising.

The logic is that marketing spend is one of the first to be trimmed when businesses try to tighten their belts through tougher times. Promotion of goods and services is less effective anyway when consumers have less money to spend.

Because of this perception, most ad-related ASX shares have plunged in recent weeks.

However, Forager Funds portfolio manager Alex Shevelev and analyst Gaston Amoros reckon there are a couple of stocks that will fare better than the market expects.

The stock that’s cheap as a Russian telco

In their reporting season review, the pair argued that August updates showed advertising hasn’t actually slowed down that much, at least for some.

So some ASX shares are just selling at absurdly cheap levels at the moment.

“Seven West Media Ltd (ASX: SWM) is trading at around 4x consensus earnings, the level you would normally associate with a Russian telecommunications company, not one of the near-duopolistic owners of broadcast TV stations in Australia.”

The Forager experts noted that Seven West is so bullish about advertising activity in the coming period that it backed up the rhetoric with actual cash.

“The company is so confident in its outlook that they have just announced a 10% buyback,” they said. 

“And we tend to agree with them – buying its own stock at these levels seems like a very good deal.”

Seven West shares have lost about a quarter of their value so far this year.

The rest of the professional community is divided on the media conglomerate. Out of the 12 analysts surveyed on CMC Markets, five rate it as a buy, four think it’s a hold, and three recommend selling.

Bouncing back from COVID-19 but as cheap as 2020

Outdoor advertising provider oOh!Media Ltd (ASX: OML) is another example of a stock that’s too cheap to ignore.

“Their business continues to bounce back strongly from the pandemic,” said Shevelev and Amoros.

“While the core Street, Road and Retail segments have sustained the recovery thus far, Airports and Offices are still to make a comeback, providing more runway for growth into FY23.”

Similar to Seven West, the oOh!Media share price has lost 22.4% year to date.

The Forage experts see this as a golden buying opportunity.

“Its share price… is back to the pre-vaccine days of 2020!”

Other fund managers share Shevelev and Amoros’ enthusiasm for oOh!Media much more than Seven West.

According to CMC Markets, six out of nine analysts currently recommend the stock as a buy, with five of them rating it a strong buy.

The post ‘A very good deal’: Expert names 2 ASX shares to buy for CHEAP now appeared first on The Motley Fool Australia.

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More reading

• Seven West share price lifts on new record AFL deal
• oOh! Media Ltd share price jumps 9% on big earnings increase
• Seven West Media share price tumbles 5% on full-year earnings
• Seven West Media share price in focus following best financial performance in a decade

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After a tough couple of years, the AGL Energy Limited (ASX: AGL) share price has returned to form in 2022.

Since the start of the year, the energy company’s shares have risen almost 12%.

As a comparison, the ASX 200 index is down 10% year to date. That’s a relative outperformance of 22%.

Can the AGL share price keep rising?

The good news is that you’re not too late to the party, according to analysts at Morgans.

A recent note reveals that the broker has retained its add rating with an $8.63 price target.

Based on the current AGL share price of $7.04, this implies potential upside of over 22% for investors over the next 12 months.

In addition, the broker is forecasting a 30 cents per share dividend in FY 2023, which equates to an attractive 4.2% dividend yield.

What did the broker say?

Morgans is feeling positive about AGL’s outlook after a tough period. It explained:

Legacy coal contracts in NSW and the owned Loy Yang mine in VIC provide low cost fuel to limit the increases in the average cost of energy and should therefore boost margins in a very tight electricity market.

Delays in the expected timing of Snowy Hydro, a potentially protracted conflict in Ukraine and general underinvestment in generation across the sector point to higher domestic energy prices on average in the medium term which will in turn support higher earnings for AGL.

The broker also highlights that demerger uncertainty has now been resolved and things are looking brighter for its ESG credentials. Morgans also reminds investors that there has been takeover interest and appears to believe that it could resurface. It said:

Uncertainty about the demerger has been resolved and activist shareholders may actually improve the market’s perception of AGL’s ESG impact if it can chart a credible path to replacing its coal generation assets over the next decade. AGL has also attracted interest as a takeover target.

The post Broker tips 22% upside for the AGL share price appeared first on The Motley Fool Australia.

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More reading

• ‘We would like to see faster progress’: ASX 200 energy shares on notice
• Down 15% in a month – is the AGL share price good value yet?
• Why is the AGL share price on the slide today?
• Natural gas is up 110% this past year. What does this mean for the AGL share price?
• 3 popular ASX 200 shares going ex-dividend tomorrow

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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It hasn’t been a great year for the Bank of Queensland Ltd (ASX: BOQ) share price.

Since the start of 2022, the regional bank has seen its shares fall over 17% to $6.87.

In light of this, investors may be wondering if the Bank of Queensland share price is now trading at an attractive level to start an investment.

Is the Bank of Queensland share price good value?

According to a recent note out of Goldman Sachs, it doesn’t believe investors should be picking up shares just yet.

Though, it is worth noting that the broker does see material upside potential for its shares.

Goldman currently has a neutral rating and $8.16 price target on the bank’s shares, which implies potential upside of 19% for investors over the next 12 months.

Why is it not a buy?

The broker highlights two key points for why it isn’t as positive on the regional bank as it once was. These include its slowing momentum and its lack of exposure to rising rates. It explained:

1. BOQ’s volume momentum has slowed recently and while still tracking above system at 1.4x system average (on a 3 month annualised basis), this is somewhat below BEN at 2.2x.

2. BOQ’s margin is not as exposed to higher cash rates and it therefore captures less upside from higher rates. We also note that its recent deposit pricing has shown greater levels of sensitivity to higher cash rates than either the majors or BEN.

Instead of Bank of Queensland, the broker thinks investors should be buying Westpac Banking Corp (ASX: WBC) shares.

Goldman has Australia’s oldest bank on its conviction buy list with a price target of $26.55. This implies potential upside of 25% for investors from current levels.

The post Here’s what a top broker is saying about the Bank of Queensland share price appeared first on The Motley Fool Australia.

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More reading

• Savings or dividends? What these 3 ASX bank shares are offering for income
• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy today
• Is the Bank of Queensland share price undervalued compared to other ASX banks?
• Why did the Bank of Queensland share price lag the other ASX 200 banks today?

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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Australian home and business owners are now paying back more than two more percentage points in interest than they were just four months ago.

The Reserve Bank of Australia is deliberately trying to slow the economy to bring inflation under control. But this means that there will be some pain.

Whether the central bank can bring Australia in for a “soft landing” or drive it into recession for a “hard landing” remains to be seen. But everyone will feel some sort of landing on their bottom.

So in times like these, it might be prudent to think about which ASX shares may not be as affected by economic downturns.

Some experts have suggested healthcare might be one of those sectors.

After all, regardless of how much money is available in the wallet, you have to heal from an injury or illness. It is the opposite of a discretionary spend.

If you think this strategy makes sense, there are two ASX shares that experts are recommending as buys right now:

International business attracting takeover interest

Ramsay Health Care Limited (ASX: RHC) shares have lost about 16% since April, and only gained 8.5% over the past five years.

But that’s not the whole story.

That whole time, the company has been locked in tense negotiations with a private consortium led by KKR & Co, which wants to buy out the health facilities operator.

After months of to-ing and fro-ing, the situation came to a head last month.

“A consortium of investors led by KKR has withdrawn its non-binding indicative proposal to acquire Ramsay Health Care, a private hospital operator in Australia, Asia, the United Kingdom and France,” Shaw and Partners senior investment advisor Jed Richards told The Bull.

It seems KKR’s team became frustrated with being unable to perform due diligence on Ramsay’s European arm. That division is a separately listed company, which competes with a business that KKR already partly owns.

Putting aside the takeover saga, Richards reckons Ramsay has a bright outlook anyway.

“Regardless, RHC is well positioned post-COVID-19 to expand its Australian capacity.”

If it didn’t, private equity would not be so interested in acquiring the business.

Cancer treatments going to market

Telix Pharmaceuticals Ltd (ASX: TLX) is very much a different investment to Ramsay. As a pharmaceutical business only just starting to get products out into the market, it’s very much a growth stock.

This year has seen huge progress towards sustainable revenues, which has prompted BW Equities equities salesperson Tom Bleakley to declare the stock as a buy.

“This bio-pharmaceutical company has launched its prostate cancer imaging product,” he said.

“The drug Illuccix has been approved by the US Food and Drug Administration to detect early stage 4 prostate cancer. Initial sales of Illuccix have been strong since the first commercial dose was administered on April 14, 2022.”

Indeed, since that time the share price has risen 22.5%.

But it has cooled off more than 29% since 11 August, which may have opened up a buying opportunity.

Bleakley points out Illuccix is not the only egg in Telix’s basket.

“Telix is progressing nuclear medicine trials for therapy of late stage prostate cancers.”

The post 2 healthcare ASX shares ready to go off like a cracker: experts appeared first on The Motley Fool Australia.

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More reading

• These ASX 200 shares are going ex-dividend on Monday
• 6 ASX shares Morgans would buy right now
• Leading brokers name 3 ASX shares to buy today
• Ramsay share price plunges 4% after suitor withdraws takeover offer
• Ramsay shares halted after earnings slashed and takeover letter lands

Motley Fool contributor Tony Yoo has positions in TELIXPHARM DEF SET. 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 Ramsay Health Care Limited. 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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If you’re aiming to lift your income with some dividend shares, then you might want to consider the two listed below.

Here’s what you need to know about these dividend shares:

National Australia Bank Ltd (ASX: NAB)

The first ASX dividend share that could be a good option right now for income investors is this banking giant.

NAB appears well-placed to profit in the current environment with rates rising and its overweight exposure to commercial lending.

It is because of the latter that Goldman Sachs is positive on the bank. It sees “volume momentum over the next 12 months as favouring commercial volumes over housing volumes and NAB provides the best exposure to this thematic.”

The broker currently has a buy rating and $34.63 price target on the bank’s shares.

In addition, Goldman is expecting some attractive dividend yields from NAB’s shares. It is forecasting a $1.50 per share dividend in FY 2023 and then a $1.70 per share dividend in FY 2024. Based on the current NAB share price of $30.24, this will mean fully franked yields of 5% and 5.6%, respectively.

South32 Ltd (ASX: S32)

It isn’t just NAB that potentially offers decent upside and attractive yields. The same is being said about South32.

The diversified mining and metals company, which has operations spanning the likes of alumina, aluminium, copper, energy and metallurgical coal, manganese, nickel, silver, and zinc, has been tipped as a buy by analysts at Citi.

Following the release of South32’s full year results, the broker commented that its “costs increases are modest; [and it is] still a cheap(ish) FY24 recovery play.”

Citi has a buy rating and $4.65 price target on the company’s shares.

As for dividends, the broker is forecasting a 28 cents per share dividend in FY 2023 and then a 34 cents per share dividend in FY 2024. Based on the current South32 share price of $4.14, this will mean fully franked yields of 6.8% and 8.2%, respectively.

The post Experts say these 2 ASX dividend shares are buys appeared first on The Motley Fool Australia.

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More reading

• Why ASX bank shares are more likely to slowly grind lower than crash, despite famed Wall Street bear saying it’s time to short them
• Are NAB shares worth buying in September?
• Is this why the Macquarie share price was ‘steaming ahead’ on Friday?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the ASX 200 diving 2% on Tuesday?

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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On Tuesday, late selling sent the S&P/ASX 200 Index (ASX: XJO) into the red. The benchmark index fell 0.4% to 6,826.5 points.

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

ASX 200 expected to fall

The Australian share market looks set to fall again on Wednesday following a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.6% lower this morning. On Wall Street, the Dow Jones fell 0.55%, the S&P 500 dropped 0.4%, and the Nasdaq fell 0.75%.

Oil prices drop

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough day after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.2% to US$86.69 a barrel and the Brent crude oil price has fallen 3.3% to US$92.61 a barrel. Traders were selling oil amid demand concerns.

Metcash AGM and update

The Metcash Limited (ASX: MTS) share price will be on watch on Wednesday when the wholesaler holds its annual general meeting. Metcash traditionally releases a trading update at the meeting for the first quarter of the financial year. When the company released its full year results in June, it revealed that trading had been strong early in FY 2023. At that point, group sales were up 8.6% for the first seven weeks thanks to growth in all pillars.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor day after the gold price traded lower overnight. According to CNBC, the spot gold price is down 0.65% to US$1,711.2 an ounce. The gold price fell after the US dollar rallied and bond yields rose.

ASX 200 shares going ex-dividend

A number of ASX 200 shares are due to trade ex-dividend this morning and could drop into the red. This includes packaging giant Amcor (ASX: AMC), logistics solutions company Brambles Limited (ASX: BXB), healthcare company Healius Ltd (ASX: HLS), private health insurer Medibank Private Ltd (ASX: MPL), and job listings giant Seek Limited (ASX: SEK).

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

• Morgans names 3 of the best ASX shares to buy in September
• What happened to Woodside shares on Tuesday?
• Should all ASX investors be buying defensive shares right now?
• ‘We would like to see faster progress’: ASX 200 energy shares on notice
• Why are ASX 200 gold shares having such a hard time of it in 2022?

Motley Fool contributor James Mickleboro has positions in SEEK Limited. 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 Amcor Limited. 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 Scott Phillips.

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If you’re a growth investor and have room for in your portfolio for some new additions in September, then it could be worth considering the two ASX growth shares listed below.

Here’s what you need to know about these buy-rated shares:

Lovisa Holdings Limited (ASX: LOV)

The first ASX growth share to look at is fast-fashion jewellery retailer Lovisa.

While its shares have been on fire since the release of an exceptionally strong full year result for FY 2022, the team at Macquarie still sees plenty of room for them to climb even higher.

According to a recent note, the broker has retained its outperform rating and lifted its price target to $27.70.

Based on the current Lovisa share price of $22.87, this implies potential upside of 21% for investors over the next 12 months.

Macquarie was impressed with Lovisa’s strong performance in FY 2022 and believes more of the same is coming. Particularly given its exposure to the lower price point costume jewellery category and younger consumers. The broker feels this area of retail is likely to perform well during an economic downturn.

Megaport Ltd (ASX: MP1)

Another ASX growth share that has been tipped as a buy is Megaport.

It is the global leader in elastic interconnection services, using software defined networking to rapidly connect users’ networks to other services across the Megaport Network.

Goldman Sachs is a big fan of the company and has a buy rating and $10.30 price target on its shares. Based on the current Megaport share price of $7.26, this implies potential upside of 42% for investors over the next 12 months.

The broker believes Megaport is well-placed for strong long term growth thanks to its product leadership in the rapidly growing network as a service/SD-WAN addressable markets.

The post Analysts say these exciting ASX growth shares have at least 20% upside appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• 3 ASX All Ords shares smashing new highs on Monday
• Why Allkem, Capricorn Metals, Lovisa, and Pilbara Minerals shares are rising today
• Here’s why the Lovisa share price leapt 8% on Monday
• Why these 3 ASX shares could be in for a massive boost this month

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 FPO. The Motley Fool Australia has recommended Lovisa Holdings Ltd and MEGAPORT FPO. 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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