Tag: Motley Fool

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a decline. The benchmark index fell 0.4% to 7,614.9 points.

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

ASX 200 expected to rebound

The Australian share market is expected to rebound on Tuesday despite a mixed start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.4% higher. In late trade in the United States, the Dow Jones is up 0.3%, the S&P 500 is flat, and the NASDAQ is down 0.3%.

CSL results

CSL Ltd (ASX: CSL) shares will be on watch today when the biotechnology company releases its half year results. A strong result is expected by the market. Morgans commented: “FY24 guidance suggests solid 1H. FY24 constant currency guidance calls for NPATA US$2.9-3bn (13-17%) on 9-11% revenue growth, with operating efficiency improving, B/S leverage declining (2x ND/EBITDA) and ROIC “steadily improving” over time.”

Oil prices soften

ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.25% to US$76.64 a barrel and the Brent crude oil price is down 0.5% to US$81.77 a barrel. Traders appear to have been taking profit after recent gains.

Beach named as a buy

Bell Potter thinks investors should be buying Beach Energy Ltd (ASX: BPT) shares following the release of its half year results. This morning, the broker has retained its buy rating with a $1.90 price target. It said: “BPT has a strong, fully funded production growth outlook, diversified across five energy basins and across four separate gas markets. […] With a positive view on Australian east coast gas and LNG markets, and strong earnings growth outlook, we maintain a Buy recommendation.”

Gold price eases

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could fall today after the gold price eased overnight. According to CNBC, the spot gold price is down 0.2% to US$2,035.1 an ounce. Traders were selling gold ahead of the release of inflation data in the United States.

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

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More reading

• Here are the top 10 ASX 200 shares today
• CSL shares could pop 9% on surprising results if history repeats itself
• Why the CBA dividend fountain will be in focus this week
• Why CSL, Fletcher Building, Skycity, and Wildcat shares are falling today
• Why Audinate, Beach Energy, Calix, and JB Hi-Fi shares are charging higher

Motley Fool contributor James Mickleboro has positions in CSL and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Goldman Sachs Group. The Motley Fool Australia has recommended CSL. 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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Sometimes even good companies fall out of favour with investors.

It might be that the economic conditions aren’t quite right for them in the short term, or they might be dealing with some one-off problems.

But when it becomes clear that the problems are not chronic and the stock starts poking up,  it could be an excellent buying opportunity for investors.

Here are two such S&P/ASX 200 Index (ASX: XJO) stocks that the experts are rating as buy this week:

The next month could ‘ignite demand’

Treasury Wine Estates Ltd (ASX: TWE) lost a major export market four years ago when China instituted punitive tariffs on imported wine in retaliation for Canberra’s call for an enquiry into the origins of COVID-19.

Now that diplomatic relations have thawed somewhat, there could be a revival.

“A review of punitive tariffs imposed on Australian wine in China is expected to be completed at the end of March,” Shaw and Partners senior investment advisor Jed Richards told The Bull.

“Lifting tariffs, or significantly reducing them should ignite demand for Treasury Wine’s Penfolds brand.”

The market has started to appreciate that the business is solid outside of the China issue, pushing the Treasury stock price up more than 9% since early January.

Richards said that Treasury Wine has “a strong track record”.

“The company offers strong brands and a quality management team.”

Many of his peers agree. A whopping 12 out of 14 analysts surveyed on CMC Markets currently rate the stock as a buy.

The ASX 200 stock looking forward to rate cuts

The Macquarie Group Ltd (ASX: MQG) shares have merely moved sideways since a brief period in late 2021 when the investment bank overtook Westpac Banking Corp (ASX: WBC)’s market capitalisation to technically enter the Big Four.

Baker Young analyst Toby Grimm is convinced transitory headwinds are now behind Macquarie.

“Downgrades in mid to late 2023 were due to difficult corporate transaction conditions,” he said.

“However, we believe financial conditions are improving.”

A likely pivot from central banks around the world will set up favourable conditions for Macquarie in the coming years.

“The global outlook includes interest rates cuts, which, in our view, positions this diversified financial services company to benefit from improving transaction volumes and earnings in fiscal years 2024 and 2025.”

The post 2 rejuvenated ASX 200 stocks with ‘strong brands’ ready to roar again appeared first on The Motley Fool Australia.

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More reading

• I think this ONE factor gives ASX shares a huge chance to make big returns
• 2 sizzling-hot ASX stocks to buy right now
• CBA could be eyeing record profits if first-half results echo the past
• Brokers name 3 ASX shares to buy now
• The market is undervaluing this ASX 200 stock: Goldman Sachs

Motley Fool contributor Tony Yoo has positions in Macquarie Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Treasury Wine Estates. 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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There are plenty of exchange-traded funds (ETFs) for investors to choose from, but which ones could be buys in February?

Let’s take a look at four top options that could be worth considering this month:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The BetaShares Asia Technology Tigers ETF could be a top option if you’re feeling bullish on the long-term outlook of the Asian economy. That’s because it provides investors with easy access to the biggest and best companies that the region has to offer. This includes Tencent, which owns the WeChat super app and has approximately 1.3 billion users.

BetaShares Global Cybersecurity ETF (ASX: HACK)

Another ASX ETF that is highly rated is the BetaShares Global Cybersecurity ETF. It offers investors access to a global cybersecurity sector that is predicted to grow materially over the next decade due to the rising threat of cybercrime. Among the companies included in the fund are Accenture, Cisco, and Palo Alto Networks.

ETFS Battery Tech & Lithium ETF (ASX: ACDC)

The lithium industry has been sold off over the last 12 months. But if you think that this is a temporary blip, then it could be worth checking out the ETFS Battery Tech & Lithium ETF. It invests in the leading companies in the battery technology and lithium industries. This includes miners, battery producers, and electric vehicle manufacturers.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

Finally, the Vanguard MSCI Index International Shares ETF could be a good option for investors if they’re looking to diversify a portfolio. That’s because it provides easy access to approximately 1,500 of the world’s largest listed companies (excluding Australia). Among its holdings are companies from countries including the US, Japan, UK, France, Canada, and the Netherlands.

The post 4 ASX ETFs to supercharge your portfolio in February appeared first on The Motley Fool Australia.

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More reading

• Shares vs. property: Beginner investors choosing Aussie shares, ASX ETFs and rentvesting
• 3 excellent ASX ETFs for beginner investors
• 5 reasons to buy an ASX index fund today
• 8 popular ASX ETFs smashing new 52-week highs
• 3 ASX ETFs for tech investors to buy and hold

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 Accenture Plc, BetaShares Global Cybersecurity ETF, Cisco Systems, Global X Battery Tech & Lithium ETF, Palo Alto Networks, and Tencent. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2025 $290 calls on Accenture Plc and short January 2025 $310 calls on Accenture Plc. The Motley Fool Australia has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has recommended Betashares Capital – Asia Technology Tigers Etf, Global X Battery Tech & Lithium ETF, and Vanguard Msci Index International Shares ETF. 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 willing to put up with a little bit more risk than the average, there are some ASX stocks out there with the capability to rocket in a short amount of time.

They potentially have some catalysts coming that, if they occur, could put an absolute rocket under the share price.

Of course, nothing is guaranteed, but enter these types of investments with an open mind and a risk-on mindset, and you may find yourself with handsome riches at the end of the journey.

Let’s take a look at two ASX stock picks ripe with such potential:

Try a 1,400% gain for explosive potential

Telix Pharmaceuticals Ltd (ASX: TLX) shares, already up 15.8% so far this year, are a classic example of a growth stock with explosive capabilities.

It is a maker of anti-cancer diagnostic and therapeutic products.

This means that every success in the development process — clinical trials, regulatory approval, or commercial release — will be met with excitement in the stock market.

Its journey over the past few years is testament to that. The Telix share price has gained an unbelievable 1,468% in the past five years and 87% over the past 12 months.

The company is in a great position now because it already has a product, Illuccix, on sale commercially. So this brings in revenue to fund its future pipeline.

Many experts agree that Telix stocks have incredible potential. According to CMC Invest, all eight analysts studying the stock rate it as a buy.

The stock pick that could rocket with the economy

Chrysos Corporation Ltd (ASX: C79) has a very specific remit.

The company provides assay services for the mining industry, which means it tests samples to determine the quality and quantity of any minerals present.

Its PhotonAssay technology is unique in the industry for its speed, accuracy, and environmental credentials. And it is rapidly gaining customers.

That’s shown in how the shares soared 77%  over the past year, during a period in which the mining industry has had mixed fortunes.

So imagine how well the business and stock could do when the mining industry is in full swing in the coming years as the global economy recovers back to health.

The shares have dipped 16% this year, providing a buying opportunity.

Shaw and Partners senior investment advisor Jed Richards attributed that to Chrysos falling short of revenue expectations in a January update.

But that’s a minor setback, as far as he’s concerned.

“Delays in the number of PhotonAssay unit installations reflect timing issues as opposed to a reduction in demand,” Richards told The Bull.

“We view the share price reaction as overdone, presenting attractive entry levels for investors.”

The post 2 ASX stock picks with explosive potential appeared first on The Motley Fool Australia.

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More reading

• Brokers say these ASX mining shares are strong buys in February
• 2 top ASX growth shares to buy right now and hold for the long term
• Why did this ASX All Ords stock sink 6% after a high growth quarter?
• Why Adriatic Metals, Chrysos, Coronado, and Nanosonics shares sinking today
• How I’d invest $300 a month in ASX shares to target $22,000 annual passive income!

Motley Fool contributor Tony Yoo has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Chrysos and Telix Pharmaceuticals. The Motley Fool Australia has positions in and has recommended Chrysos. The Motley Fool Australia has recommended Telix Pharmaceuticals. 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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There aren’t too many ASX dividend stocks on the ASX boards that pay investors every single month.

Rather, the norm for the vast majority of income stocks is to provide their investors with a paycheque every six months. Getting your dividends twice a year may be okay for some investors. But others would probably enjoy the certainty of a monthly salary.

Of course, you do have the option to invest in monthly dividend payers directly. But, as we mentioned earlier, these are nearly as rare as rooster eggs on the ASX. Some options include Plato Income Maximiser Ltd (ASX: PL8), BetaShares Dividend Harvester Fund (ASX: HVST) and Metrics Master Income Trust (ASX: MXT).

But let’s say none of these monthly ASX dividend stocks appeals to you. What’s an investor to do?

Well, one path is to compile a concentrated portfolio of high-quality ASX dividend stocks. If you choose the right shares, you can be assured of a dividend paycheque (almost) every month of the year.

Here’s how I would do it, using shares that are all under $50 each.

Building a monthly income portfolio

Firstly, I would spend an equal amount on each of the following ASX dividend stocks:

• Transurban Group Ltd (ASX: TCL)
• Telstra Group Ltd (ASX: TLS)
• Woolworths Group Ltd (ASX: WOW)
• Brickworks Ltd (ASX: BKW)
• National Australia Bank Ltd (ASX: NAB)
• Vanguard Australian Shares Index ETF (ASX: VAS)

In my opinion, these six investments provide ASX income investors with a balanced, but diversified group of quality shares that you can reasonably expect reliable income from.

Toll-road operator Transurban is a company that has serious inflation protection mechanisms built into its earnings base and offers a dividend yield well over 4% today.

Telstra is another defensive share with phenomenal market share in its telecommunications space. It has a fully-franked dividend yield of over 4% today.

Woolworths is a consumer staples giant that also offers significant inflation protection and an earning base that can be relied upon during both booms and recessions. Its fully-franked dividend yield is presently sitting at just under 3%.

Brickworks is another diverse company that effectively offsets the cyclicality of its construction materials business with a robust portfolio of property and stocks. It hasn’t hit investors with a dividend pause or cut since the 1970s, and today offers a fully franked dividend yield of just over 2.25%.

NAB is a famous income-heavy hitter on the ASX. As a big four bank, it is a remarkably mature, stable and robust company that has a fully-franked dividend yield of just over 5.1% on the market today.

Finally, the Vanguard Australian Shares ETF is an index fund that allows ASX investors to indirectly buy into the largest 300 stocks on the ASX, all in one share. As such, its quarterly dividend typically reflects an average of all of the income that is produced on the Australian stock market.

Why these six ASX dividend stocks?

For one, I view these ASX dividend stocks as some of the best and most reliable income payers that the ASX has to offer. I would be happy to own all of them in my own personal portfolio (indeed, I own a few already).

But this particular selection has a bonus for investors too. Owning all six should give you a good shot at a dividend paycheque every month of the year, bar one.

Naturally, dividends can never be fully relied upon (as COVID proved). There’s always a chance that a company might decline to pay a dividend in a certain half-year. It could also decide to move its payment day, which would disrupt the calendar you’re about to see.

But I think there’s a decent chance investors won’t have to worry too much with these ASX dividend stocks.

Starting with January, investors will be in line to receive the first of the Vanguard Australian Shares ETF’s dividend distributions.

February will then see Transurban fork out its own payment. March has Telstra’s interim dividend, with Woolworths following in April, and Brickworks in May.

In July, NAB usually forks out one of its dividends, with Transurban coming in with its second in August.

September is a big month, with both Woolies and Telstra dropping their second payments.

October is another VAS month, while November will see Brickworks round out its dividends for the year.

Finally, NAB typically gives its shareholders an early Christmas present in December when its second dividend leaves the company doors.

So with just six ASX dividend stocks, each going for under $50 today, you can set up a near-perfect monthly dividend schedule.

June of course is the only outlier. So our investor might have to tighten the belt that month. But if they can get through June, there are 11 months of straight monthly paycheques to look forward to.

The post Transform $50 into monthly income: The best ASX dividend stocks under $50 appeared first on The Motley Fool Australia.

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More reading

• 3 top ASX bank shares hit 52-week highs today: Is there still value to be found?
• 3 ASX 200 dividend shares to buy with great yields
• 3 things ASX investors should watch this week
• Shares vs. property: Beginner investors choosing Aussie shares, ASX ETFs and rentvesting
• 10 time-wasters that could destroy your ASX investments

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank, Plato Income Maximiser, Telstra Group, and Vanguard Australian Shares Index ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Transurban Group. The Motley Fool Australia has positions in and has recommended Brickworks and Telstra Group. 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 post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Analysts tip 10% to 30% returns for these ASX growth shares in 2024
• Why the CBA dividend fountain will be in focus this week
• Aurizon share price charges higher on half-year earnings beat
• Why Audinate, Beach Energy, Calix, and JB Hi-Fi shares are charging higher
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Sebastian Bowen has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Lovisa, Pro Medicus, and Technology One. The Motley Fool Australia has positions in and has recommended Harvey Norman and Super Retail Group. The Motley Fool Australia has recommended Aurizon, Bapcor, CSL, Eagers Automotive Ltd, Jb Hi-Fi, Lovisa, Pro Medicus, and Technology One. 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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CSL Ltd (ASX: CSL) results are due out Tuesday morning, and it could be a huge day of trading for the healthcare stock.

Already on Monday CSL shares plunged more than more than 5% at one stage after unfavourable test results for its CSL112 drug was disclosed.

History suggests, though, that if the latest financial figures look good, CSL shares could more than wipe out that loss plus more.

Biotech stocks can swing wildly

This time two years ago, CSL’s report revealed that it had implemented efficiencies in its plasma collection network while it was dormant during the COVID-19 pandemic.

That news, a US$1.7 billion half-year profit, and a confirmation of its forward guidance sent the share price soaring 8.5% that day.

For a huge biotechnology company like CSL, it doesn’t take much to get the market excited enough to move the dial on valuation.

So there is no reason why this can’t happen again this Tuesday.

eToro market analyst Josh Gilbert noted that CSL’s 2023 financial results had been well received by investors, sending the share price 10% higher since last reporting season.

“Shareholders were pleased with the healthcare giant’s FY23 results, where revenue growth went up 31% year-over-year to US$13.31 billion, and the company’s FY24 guidance continued to hold firm,” he said.

“CSL’s projected underlying profit range of US$2.9 billion to US$3 billion for FY24 has provided reassurance to investors eagerly anticipating the company’s half-year results.”

Everyone craving direction on CSL shares

One risk highlighted recently was regulatory developments coming out of Europe.

“The company’s share price faced a decline [last] week following news of a UK investigation into alleged anti-competitive behaviour from CSL Vifor. 

“If found guilty, CSL faces potential fines and reputational damage, which may impact the company’s FY24 results.”

Considering the mixed signals, investors will be seeking some sort of firm direction on Tuesday morning.

“They are keen to ascertain whether CSL has sustained its course toward recovery following the turbulence its share price experienced in 2023.”

Professional investors are still pretty keen on CSL shares, with 12 out of 14 analysts currently rating the healthcare giant as a buy.

The post CSL shares could pop 9% on surprising results if history repeats itself appeared first on The Motley Fool Australia.

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More reading

• Why CSL, Fletcher Building, Skycity, and Wildcat shares are falling today
• CSL share price sinks 6% on major trial failure
• 3 things ASX investors should watch this week
• Own CSL shares? What to expect from its half-year results
• Here’s how the ASX 200 market sectors stacked up this week

Motley Fool contributor Tony Yoo has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. 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 Liontown Resources Ltd (ASX: LTR) share price has sunk like a stone in the last few months, dropping over 60% in four months. Is Gina Rinehart about to ride to the rescue of the ASX lithium share?

Readers may remember that a few months ago, Liontown was the target of a takeover bid by a global lithium giant. But, Rinehart’s entity called Hancock Prospecting decided to come in and buy a fifth of the business. Thus, Albemarle Corp (NYSE: ALB) decided to walk away.

Now it’s being speculated that Rinehart may want to buy the whole of Liontown Resources.

Takeover talk intensifies

According to reporting by The Australian, some investors think a takeover is more likely by the mining billionaire. Interestingly, the Liontown share price rose by 14% last week, though it gave up some of those gains today.

Rinehart’s entity bought those shares a few months ago at a share price of approximately $3.

The newspaper reported that under the Corporations Act’s minimum bid provisions, 11 February 2024 was the end of the period that Hancock Prospecting was forced to wait to buy Liontown for less than the price paid for that 19.9% stake.

The Australian then said that market speculation about a possible takeover move “has intensified in recent days.”

What’s happening with the lithium price?

As an ASX mining share, the commodity price plays a big part in how much investors are willing to pay for Liontown shares because it influences how much profit it could make in the future.

Increasing supply and stuttering demand growth (particularly from China) have seen the lithium price fall substantially over the past 15 months.

Forecasts for the lithium price suggest it’s not going to improve much for years. However, forecasts can change – investors may have been too optimistic in 2022 and may have become too pessimistic in 2024, or they could be right. Time will tell.

Liontown is assessing what it’s going to spend its money on so that it can preserve capital and reduce the near-term funding requirements of the project. There’s no change to the 3 million tonnes per annum plant capacity design that the company is currently constructing. The fall in the lithium price has led to the ASX lithium share needing to change to a smaller debt facility.

Liontown share price snapshot

Over the past year, the Liontown share price is down by 31%.

The post Rinehart’s next move: Why Liontown shares could be on the menu appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Liontown’s share price crash has cost its chair $641 million. What now?
• Here are the top 10 ASX 200 shares today
• 7 ASX lithium shares going gangbusters today

Motley Fool contributor Tristan Harrison 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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Income investors looking for dividend options might want to read on.

That’s because listed below are two ASX dividend stocks that analysts are recommending as buys.

Here’s what you need to know about them:

Rio Tinto Ltd (ASX: RIO)

If you’re not averse to investing in the mining sector, then Rio Tinto could be worth a look.

It is one of the world’s largest miners with world class operations across multiples commodities. This includes copper, iron ore, and even lithium.

Goldman Sachs thinks that Rio Tinto could be an ASX dividend stock to buy right now.

The broker highlights that “Rio is a FCF and production growth story in our view, with forecast Cu Eq production growth of ~5-6% in 2024 & 2025.”

It expects this to underpin fully franked dividends per share of US$4.61 (A$7.07) in FY 2024 and then US$4.62 (A$7.09) in FY 2025. Based on the latest Rio Tinto share price of $129.02, this will mean yields of 5.5% in both years.

Goldman has a buy rating and $140.50 price target on its shares.

Universal Store Holdings Ltd (ASX: UNI)

Another ASX dividend stock that could be a buy according to analysts is youth fashion retailer Universal Store.

It is the owner of the eponymous Universal Store brand, as well as the Thrills and Worship brands.

Combined, Morgans believes the company has an “attractive array of medium-term growth prospects.”

It also believes Universal Store will be well-positioned to pay some very attractive dividends in the near term. It is forecasting forecasting fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store share price of $4.21, this will mean yields of 6.2% and 6.9%, respectively.

Morgans has an add rating and $4.55 price target on its shares.

The post Buy Rio Tinto and this ASX dividend stock appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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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If you have space in your portfolio for some new ASX growth shares, then it could be worth checking out the three listed below.

That’s because they have all recently been named as buys and tipped to rise meaningfully from current levels.

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

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans thinks that Flight Centre could be an ASX growth share to buy right now.

The broker believes the “benefits of FLT’s transformed business model” means that the company is “well placed over coming years.”

Morgans currently has an add rating and $26.00 price target on its shares. This implies potential upside of 20% for investors from current levels.

Life360 Inc (ASX: 360)

Goldman Sachs believes that location technology company Life360 is another ASX growth share to buy right now.

It highlights that the company’s “US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US.”

In addition, the broker sees “potential structural profitability tailwinds on the horizon from a reduction in effective app store fees.”

Goldman has a buy rating and $10.50 price target on its shares. This suggests potential upside of 34% from current levels.

TechnologyOne Ltd (ASX: TNE)

Goldman Sachs also thinks that enterprise software provider TechnologyOne could be an ASX growth share to buy this month.

Its analysts believe the company is well-placed for growth and trading on attractive multiples. They highlight that “TNE trades at a discount to SaaS peers when adjusting for its growth outlook.”

This is despite its dominant market position, defensive end markets, and mission-critical systems deserving to “command a premium valuation.”

Goldman has a buy rating and $18.05 price target on Technology One’s shares. This would mean 11% upside for investors if the broker is on the money with its recommendation.

The post Analysts tip 10% to 30% returns for these ASX growth shares in 2024 appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Why I think Life360 shares are one of the best bargains out there
• Brokers name 3 ASX shares to buy now
• Is Flight Centre about to regain ASX dividend share status?
• 5 ASX shares I think you can confidently invest $500 in right now

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, and Technology One. The Motley Fool Australia has recommended Flight Centre Travel Group and Technology One. 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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